(Adds details on loss)
MEXICO CITY, Oct 19 (Reuters) - Mexican billionaire Carlos Slim’s America Movil on Monday reported a third-quarter net loss as Latin American currencies depreciated sharply against the dollar, hurting the revenue of region’s biggest pay TV and wireless company.
Grappling with tougher regulation at home and recession in Brazil, America Movil posted a 2.884 billion peso ($170 million) loss in the July-September period. Analysts had forecast a 9.493 billion peso profit in a Reuters poll.
The company posted a profit of 10.376 billion pesos in third quarter of 2014.
Although revenue rose, the company reported a 45 billion peso foreign exchange loss in the third quarter after the Mexican peso and Brazilian real fell against the dollar. A large portion of its revenue is in pesos and reals, but many of its expenses are in dollars.
America Movil also had to contend with cost of sales rising by more than 8 billion pesos during the quarter.
$1 = 16.933 pesos at end-September Reporting by Christine Murray; Editing by Richard Chang