America Movil Q3 net profit dips 16.4%, falling short of expectations

MEXICO CITY: Mexican telecommunications giant America Movil on Tuesday reported a 16.4% dip in third-quarter net profit compared with the same period a year earlier, falling short of some analyst expectations.

The company, which is controlled by the family of Mexican billionaire Carlos Slim, posted net profit of 15.8 billion pesos ($766 million), compared with 18.9 billion pesos a year earlier, below the estimates of Itau BBA for 21.3 billion pesos and Barclays for 23.48 billion pesos.