RTTNews | Jul 14, 2021 11:09AM EDT

11:06 Wednesday, July 14, 2021 (RTTNews.com) - Mexican telecommunication company, America Movil (AMX) is up 5% in the Wednesday market after the company reported a positive second-quarter on Tuesday.

The Carlos Slim and family-owned business recorded a profit of $2.1 billion with increased revenue of $252.5 billion, from $251.8 billion in the previous year. In another news, a major competitor to the company, Altan Redes also filed for bankruptcy on Wednesday, strengthening the investors' confidence in America Movil.

Currently, the shares are trading at $15.68, up $0.73 or 4.88% from their previous close at $14.95. The shares opened at $15.17 and in the 52-week period, the shares have moved between $11.59 and $16.43.

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