MEXICO CITY, Reuters Mexican telecommunications giant America Movil reported on Tuesday that it more than tripled its net profit in the third quarter from a year ago, due in part to a weaker peso boosting its foreign earnings and lower financing costs.

Net profit increased 217 to 6.43 billion Mexican pesos 326.37 million, the company said in a filing to Mexico39;s main stock exchange.

Revenues for the company, controlled by the family of Mexican billionaire Carlos Slim, came in at 223.46 billion pesos 11.35 billion for the period, up nearly 10 yearonyear.

Net profit came in below the estimate from analysts polled by LSEG, who had forecast dollardenominated net earnings of 1.11 billion from revenues of 11.47 billion for July through September.

The company said its higher earnings were nonetheless helped by the sale of some towers as well as the depreciation of the Mexican peso, boosting the pesodenominated value of earnings made abroad.

By endSeptember, the Mexican peso had weakened more than 13 against the U.S. dollar compared to a year earlier.

America Movil said the peso had weakened against most currencies in the regions where it operates, with the notable exception of the Brazilian real.

America Movil said its core earnings, or earnings before interest, taxes, depreciation and amortization EBITDA, rose around 12 in the quarter to 89.42 billion pesos, an increase of 6 stripping out the impacts of foreign exchange.

The company added 1.8 million subscribers,…