MEXICO CITY, Oct 23 (Reuters) - Mexico's largest
broadcaster Grupo Televisa swung to a loss in
the third quarter after a deferred tax write-off boosted income
taxes, according to a filing to Mexico's stock exchange
published on Thursday.
The broadcaster, the world's biggest producer of
Spanish-language content, posted a net loss of 1.93 billion
pesos ($105.43 million), much greater than the $12 million
dollar-denominated loss forecast by analysts polled by LSEG.
The loss, which follows a net profit of 666 million
pesos in the same quarter last year, was driven primarily by a
non-cash deferred tax asset write-off of $2.66 billion related
to capital tax losses, Televisa said.
The company also credited the loss to reduced profit
contributions from associates and joint ventures like its one
with U.S. Spanish-language broadcaster Univision.
The company's revenue fell 4.8% from a year earlier to 14.63
billion pesos ($798.7 million), close to analysts' forecast of
$771.5 million, according to LSEG data.
($1 = 18.3147 Mexican pesos at end-September)