MEXICO CITY, Oct 24 (Reuters) - Mexico's largest
broadcaster, Televisa, swung to a net profit in the third
quarter, largely boosted by improved results from the firm's
tie-up with Univision.
Televisa posted a 666.5 million peso ($33.85 million)
net profit in the third quarter, nearly doubling analysts'
estimates and reversing the 918.5 million peso loss in the same
period a year earlier.
Revenues slipped 6% to 15.36 billion pesos ($780
million), largely dragged down by Televisa's satellite
television unit SKY, it said. Analysts polled by LSEG had
expected revenues to land higher at $833.4 million.
The broadcaster is the world's largest producer of
Spanish-language content.
SKY saw about 270,000 net disconnections with a 13% dip in
revenue. Televisa's cable segment saw 19,618 disconnections
between broadband and video subscribers and a revenue drop of
4%.
TelevisaUnivision, a joint venture between Televisa and U.S.
Spanish-language broadcaster Univision, brought a billion-peso
boost to the Mexican company in the third quarter, it said.
Televisa also benefited from trimming expenses and lower
taxes, it said.
TelevisaUnivision
replaced its chief executive Wade Davis in September. A
source with knowledge of the decision told Reuters at the time
that Davis was terminated due to company results that have
lagged internal expectations.
($1 = 19.6921 Mexican pesos at end-September)