Profit jumps in Televisa Q4
EmptyMEXICO CITY -- Mexican media giant Televisa on Thursday said its fourth-quarter net profit rose 17% on solid performance from its broadcast television and pay TV divisions.
Mexico's top network reported a quarterly net income of 2.8 billion pesos ($260 million), up from 2.4 billion pesos a year earlier.
Net sales came in at 12.4 billion pesos, representing an 11% increase. Televisa's core broadcast TV unit posted a 5.6% jump in net sales, however, the company pointed out that upfront deposits for television advertising had dropped 3.2% as of Dec. 31, 2007.
Televisa's No. 2 revenue generator, Sky Mexico, saw an 11% spike in sales as its subscriber based climbed to nearly 1.6 million.
Cablevision, Televisa's cable and telecom division, reported a 43% increase in quarterly net sales. Last year, Televisa doubled the number of its broadband Internet users and had an 11% increase in video subscribers. Between the two, Cablevision has nearly 700,000 subscribers.
For the full year, Televisa posted a 9% loss in net income due largely to an income tax provision. Though net sales in 2007 rose 5.6%, the broadcaster took a hit from the absence of extraordinary ad revenues earned a year earlier from World Cup soccer transmissions and political campaigns.