UPDATE 1-Mexico's America Movil beats fourth-quarter view on lower tax payment
MEXICO CITY Feb 11 (Reuters) - Latin America's biggest phone company America Movil on Tuesday reported a better-than-expected quarterly profit, helped by a drop in taxes and a slight pick up in revenue.
The company, controlled by billionaire businessman Carlos Slim, reported a fourth-quarter profit of 17.2 billion pesos ($1.31 billion) for the October to December period, up from 14.9 billion pesos a year earlier.
Analysts on average had expected a profit of 16.86 billion pesos, according to a Reuters survey.
Revenue rose three percent to 204 billion pesos, the company said.
It was not immediately clear why the company's tax bill was more than 70 percent lower than the year earlier period.
Shares in America Movil closed up 2.51 percent at 14.32 pesos.
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