Question-and-Answer Session
Operator
(Operator Instructions) And our first question comes from the line of Michael Rollins of Citi Investment Research. Please go ahead with your questions.
Michael Rollins - Citigroup Global Markets
Hi, good morning. Just a few questions if I could. First if you could talk a little bit more about of the revenue profile in Latin America and maybe just some of the sequential trends that impacted the business there beyond the FX, with a little bit more granularity and how we should think about that going forward?
And then the second question is as you think about your annual guidance and you think that the FX impact then incrementally hitting the first quarter, how should we speak about whether that where you might fall in that guidance range? And if you could talk a little bit more about your conviction in where you see the ramp in revenue over the course of the year that would be great? Thanks.
John Legere
John, why don’t you talk a little bit about FX and how we saw that and then I will queue up few of the guys talk about Latin America, both from the carrier perspective as well as enterprise.
John Kritzmacher
Sure. So with respect to the movements we have seen in foreign exchange, while the foreign exchange movement subsequent to the fourth quarter had a significant impact on our sequential results. At this current point, having completed now the first quarter and looking into the second quarter the FX rates has been relatively speaking stable and relatively close to the rates that we used as a basis for our guidance.
So, for example, as of yesterday the pound was at 1.5. And then our guidance we said that the assumed rate was 1.44 and there were similar trends across the euro and the Brazilian Real, the three currencies that have the most significant impact on our results.
So on a go forward basis, so far in this quarter, relatively little movement in, relatively little impact therefore on our reported earnings, and therefore again back to your question around how does the movement in foreign exchange rates at this stage affect our view of guidance for the year. Again, I would say, relatively little movement and so at this point, subsequently, have a material impact on our guidance for the year.
John Legere
Let me ask Dave Carey, Chief Marketing Officer to start the conversation on the revenue profile and then maybe involve Hector Alonso and or Omar Altaji.
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