Televisa sales fall 4% in Q3, CEO Azcarraga to leave after 20 years

Monday 30 October 2017 | 13:33 CET | News

Mexican broadcaster and cable operator Grupo Televisa reported total revenues of MXN 22.8 billion in the third quarter, down 3.8 percent on the year-earlier result, above all due to a fall in advertising revenues. The company’s quarterly profit climbed by over 20 percent to MXN 1.66 billion in the July to September period thanks mainly to foreign exchange gains, while operating segment income was down 6.4 percent to MXN 9.34 billion, with a margin of 39.4 percent. Third-quarter advertising revenue fell by 8.4 percent to MXN 4.94 billion, attributed in part to ads sold upfront and the impact of the earthquakes that struck Mexico last month.

The company’s consolidated broadband revenue generating units (RGUs) surged to 3.64 million on 30 September, compared to 3.35 million a year earlier, with voice RGUs inching up to 2.10 million and video customers falling by 100,000 or so to 4.12 million. Televisa said its Sky Mexico unit was up to 8.01 million subscribers at the end of the third quarter, compared to 7.92 million a year earlier, including 184,600 subscribers in Central America and the Dominican Republic.

Grupo Televisa also announced that Emilio Azcarraga will step down as its chief executive on 01 January 2018 after 20 years, remaining as chairman. The company’s vice president Alfonso de Angoitia and chief financial officer Bernardo Gomez will take over as co-chief executives, said the company.

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