October 16, 2018 / 10:15 PM / a month ago

Mexico’s America Movil sees net profit surge in 3rd-qtr

MEXICO CITY, Oct 16 (Reuters) - America Movil, Latin America's largest telecommunications firm by number of subscribers, reported a net profit of 18.96 billion pesos ($1 billion) for the third quarter, rebounding from a loss in the same period last year.

The company, which is controlled by the family of Mexican billionaire Carlos Slim, reported revenue of 248.07 billion pesos during the quarter.

In the same period last year, America Movil's results were battered by a costly Colombian arbitration panel ruling.

$1 = 18.7175 pesos at end-September Reporting by Mexico City Newsroom Editing by Christine Murray

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