MEXICO CITY (Reuters) -Mexico’s largest broadcaster Grupo Televisa posted a 66% drop in net profit in the first quarter, sinking to to 319.8 million pesos ($15.63 million), according to a filing published by the company on Tuesday. The company’s revenues totaled 14.97 billion pesos, a 6% decrease from the same period last year. The broadcaster, […]
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Mexican broadcaster Televisa posts 66% profit slide in first quarter
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MEXICO CITY (Reuters) -Mexico’s largest broadcaster Grupo Televisa posted a 66% drop in net profit in the first quarter, sinking to to 319.8 million pesos ($15.63 million), according to a filing published by the company on Tuesday.
The company’s revenues totaled 14.97 billion pesos, a 6% decrease from the same period last year.
The broadcaster, the world’s biggest producer of Spanish-language content, said the quarterly loss was largely due to lower revenues from its satellite TV unit SKY.
Televisa’s satellite television unit SKY saw about 330,800 disconnections with a 13.2% dip in revenue. Televisa’s cable segment saw almost 79,000 disconnections between broadband and video subscribers and a revenue drop of 3.1%.
In February, company executives said Televisa’s capital expenditure (CAPEX) budget for 2025 would be $665 million.
($1 = 20.4604 pesos at end-March)
(Reporting by Natalia Siniawski; additonal reporting by Cassandra Garrison; Editing by Kylie Madry and Brendan O’Boyle)