Univision Communications Quarterly Revenue Falls 7.7% Without World Cup
NEW YORK - Spanish-language media giant Univision Communications reported a 7.7 percent decline in its second-quarter revenue due to tough comparisons with last summer's Soccer World Cup.
Revenue fell to $590.4 million. Univision said that the World Cup in the year-ago period had contributed an estimated $73.6 million in revenue. Excluding the Cup, revenue rose 4.3 percent in the latest period.
Univision reported a quarterly profit of $82.6 million compared with $35.3 million a year earlier as a big benefit for income taxes and lower operating and interest expenses boosted the bottom line, Univision said in a release posted on its investor relations site on Thursday. Excluding the tax benefit, profit from continuing operations before income taxes fell from $67.7 million to $200,000 though.
A previous settlement with big program supplier and shareholder Televisa, the Mexican broadcast giant, also had a negative impact on the bottom line.
Adjusted operating income before depreciation and amortization (OIBDA), which is another profitability metric used by the company, dropped 7 percent to $253 million, or 5.6 percent when excluding the Cup effect.
Management, however, highlighted the Univision broadcast network's continuing inroads in the ratings showdown with English-language networks.
"Our burgeoning, young-skewing Hispanic audience continues to grow year-over-year while ABC, CBS, NBC and Fox experience audience declines," said recently named Univision president and CEO Randy Falco. "Univision was the only top-five broadcast network to achieve year-over-year second quarter ratings growth in primetime among adults 18-34 and adults 18-49. But more importantly, our growing audience is also more engaged across all platforms than those of many of our peers.”