Univision Second-Quarter Financials Improve Amid World Cup
Revenue increased 23 percent, boosted by $115.5 million in Cup advertising revenue, and operating profit rose nearly 18 percent.
Spanish-language media giant Univision Communications on Tuesday reported improved second-quarter financials helped by the soccer World Cup in Brazil.
For the quarter ending June 30, the company said its revenue increased 23.2 percent to $833.7 million and adjusted operating income before depreciation and amortization, the profit metric it uses, rose 17.7 percent to $351.1 million.
The World Cup contributed an estimated $115.5 million of incremental net advertising revenue and an estimated $17.3 million of OIBDA, the firm said.
"Our strong second-quarter results cemented a great first half of the year for Univision Communications Inc.," said president and CEO Randy Falco. "During the quarter, Univision's excellent FIFA World Cup results were a testament of our ongoing strategy of delivering relevant content across all of our platforms and to the outstanding teams we have built in sports, entertainment and news."
He added: "In particular, this event allowed us to showcase our sports division, anchored by the #1 Spanish-language cable sports network, Univision Deportes, which will continue to provide 24/7 sports coverage year-round."
And Falco said: "As we move into the second half of 2014, we're encouraged by the early results from [the advertising] upfront, which indicate that marketers are increasingly looking to Univision for our leading integrated offerings across different platforms. We are confident that we remain well-positioned to maintain high audience engagement, and we believe that we will be able to realize revenue growth and continue to execute upon all of our strategic growth initiatives for 2014."
TV revenue in the quarter jumped 26.2 percent, digital revenue rose 110.5 percent, but radio revenue dropped 15.7 percent.