Televisa Group achieved a net profit of 0.6665 billion pesos ($33.59 million) in the third quarter of 2024. This result is in sharp contrast to the loss of 0.9185 billion pesos ($46.29 million) recorded in the same period of 2023.
The turnaround reflects some 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% decrease in other net expenses, reaching 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 an increase of 1.1473 billion pesos ($57.8 million) in earnings from joint ventures. Additionally, the company benefited from a 0.698 billion peso ($35.18 million) decrease in income taxes.
Despite these gains, Televisa’s quarterly revenue fell 6.4% year-over-year to 15.3628 billion pesos ($774.2 million). This decline is mainly attributable to a 13.2% decline 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 a significant increase in its broadband subscribers, rising from 5.7 million to 11.3 million. Cable segment revenue and operating profit margin reached 39.4%, reflecting savings achieved through efficiency measures.
In short, these figures show Televisa’s financial recovery and strategic growth in various segments of its business.
