Mexico's Televisa Sees Spike in Q3 Profit
Growth in the network's pay TV divisions helped it see a 42 percent increase in quarterly net profit.
MEXICO CITY -- Mexico's Televisa on Wednesday reported a 42 percent increase in quarterly net profit thanks to continued growth in its pay TV divisions.
The nation's top network posted a third-quarter net income of 2.86 billion pesos ($222 million), up from 2.02 billion pesos a year ago.
Televisa's satellite TV division Sky performed exceptionally well, signing on more than 330,000 new subscribers. One of the media outfit's top revenue generators, Sky saw double digit growth in net sales, as did Televisa's multiple cable subsidiaries and telecom units. Overall sales grew nearly 9 percent.
The Mexican media giant also got a boost from sales of content and licensing, thanks in part to an increase in royalties earned from a programming pact with its stateside partner, U.S. Spanish-language broadcaster Univision.
Televisa provides the bulk of Univision's primetime content.