Mexico’s Televisa Reverses Losses with 667M Peso Q3 Profit

Televisa Group achieved a net profit of 0.6665 billion pesos ($33.59 million) in the third quarter of 2024. This result contrasts sharply with the 0.9185 billion peso ($46.29 million) loss recorded in the same period of 2023.

The turnaround reflects several key improvements in the company’s financial health. The company’s operating profit before other expenses increased by 0.339 billion pesos ($17.09 million).

Additionally, Televisa saw a 56.1% reduction in other net expenses, amounting to 0.4073 billion pesos ($20.53 million). This decrease was primarily due to lower severance costs related to staff reductions in the cable and Sky segments.

Televisa reported a 1.1473 billion peso ($57.8 million) increase in profits from joint ventures. Furthermore, the company benefited from a 0.698 billion peso ($35.18 million) decrease in income taxes.

Despite these gains, Televisa’s quarterly revenue experienced a 6.4% year-on-year decline, totaling 15.3628 billion pesos ($774.2 million). This drop was mainly attributed to a 13.2% fall in its Sky satellite television segment.

However, the Televisa-Univision joint venture provided a significant boost of about 1.15 billion pesos ($58 million) to the Mexican company’s bottom line.

Televisa’s cable division expanded its reach to an additional 86,000 households. This expansion brought the total number of homes in Televisa’s network to nearly 19.9 million.

The company also saw substantial growth in its broadband subscribers, increasing from 5.7 million to 11.3 million. The cable segment’s revenue and operating profit margin reached 39.4%, reflecting the savings achieved through efficiency measures.

In short, these figures demonstrate Televisa’s financial recovery and strategic growth in various segments of its business.

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