TV Azteca enjoys big Q2 bounce
Net sales add up to $233 mil, a 6% increaseMEXICO CITY -- TV Azteca on Tuesday reported a 44% gain in second-quarter net income thanks to strong sales growth generated by its Mexican networks.
The nation's No. 2 broadcaster reported a quarterly net profit of 323 million pesos ($31 million), compared with 225 million pesos a year ago.
Net sales came in at about $233 million, up 6% from the year-earlier period. Azteca received a revenue boost from its UHF channel Proyecto 40, which contributed about $5 million to total net sales. Azteca brought the small station onto its books earlier this year.
Azteca America, the U.S. Spanish-language network owned by TV Azteca, saw sales fall by nearly $3 million.
TV Azteca blamed Azteca America's sluggish performance on "the adverse economic environment in the U.S.," where it competes stateside against market leaders Univision and Telemundo.