By Anthony Harrup


MEXICO CITY--Mexican telecommunications heavyweight América Móvil SAB said its third-quarter net profit rose on lower financial costs, while revenue and operating profit increased moderately from a year earlier.

Latin America's largest telecommunications company by subscribers made net profit of 18 billion Mexican pesos ($899 million) in the July-September period, up 14% from a year before. Profit was equivalent to 0.28 peso a share, or $0.28 per American depositary receipt.

América Móvil attributed the increase to lower financial costs, which were down by more than a third on a decline in foreign exchange lsoses.

Revenue rose 1.8% from the third quarter of 2021 to MXN214.5 billion. In local currency terms, excluding the peso's appreciation against the euro and a number of Latin American currencies, service revenue grew 5.9%. Mobile service revenue was up more than 9%, led by Brazil where America Movil acquired customers from Grupo Oi.

América Móvil added 2.9 million wireless subscribers in the quarter, ending September with 307.8 million, while subscriptions to fixed-line services were little changed at 74.5 million.

Earnings before interest, taxes, depreciation and amortization rose 2.3% to 83.2 billion pesos, and operating profit was up 5.2% at 43.6 billion pesos.


Write to Anthony Harrup at anthony.harrup@wsj.com


(END) Dow Jones Newswires

10-18-22 1842ET