Carrier America Movil profit up 66.8 percent in 3Q
MEXICO CITY (AP) — Mexican telecommunications company America Movil says its profits jumped 66.8 percent in the third quarter from the same period last year, reaching 30.6 billion pesos ($2.4 billion).
The telecom giant's earnings report Thursday says its revenue for the July-August quarter grew 4.5 percent to 192.8 billion pesos (about $15 billion).
The company controlled by billionaire Carlos Slim says the appreciation of the Mexican peso led to the sharp increase in profit.
America Movil also expanded its cellphone customer base. It says it added 4.1 million mobile subscribers, a 6 percent increase to a total of 255.9 million clients by the end of September.
America Movil SA is Latin America's biggest telecom company. It operates in 18 countries in the Western Hemisphere, including the U.S.