Televisa Profit Down 7.2 Percent

MEXICO CITY: While its revenues were up by 19.1 percent to Ps. 11.4 billion ($821 million) in the first quarter, Mexican media giant Grupo Televisa saw its net profit fall by 7.2 percent to Ps. 978 million ($71 million).

Televisa attributed the revenue increase to gains in its cable and telecoms, DTH, free- and pay-TV, program export and publishing businesses. The lower profit, meanwhile, was partly blamed on increased expenses resulting from its now-settled litigation against Univision in the U.S.

Revenues from its Mexican broadcasting business increased by 4.1 percent to Ps. 4 billion, with an operating segment income that was up by 4.6 percent to Ps.1.58 billion. In its pay-TV networks segment, revenues rose by 31.2 percent to Ps. 608.4 million, while operating income jumped 40.1 percent to Ps. 396.8 million. Programming exports brought in revenues of Ps.686.3 million, an 18.7-percent increase, with an operating income of Ps.340.5 million, a 38.8 percent increase. At DTH platform Sky, revenues were Ps.2.4 billion, showing a 10.8-percent gain and delivering an operating income of Ps.1.1 billion. The cable and telecom segment saw its revenues more than double to Ps.2.2 billion, while profit also more than doubled, to Ps.679.3 million.