Univision Communications narrowed its first-quarter loss as it recorded higher revenue and lower restructuring costs.
The Spanish-language media giant said Thursday that its quarterly loss amounted to $14.1 million, compared with a year-ago loss of $74.1 million. The figure included a $9 million impairment loss. Revenue jumped 9.7 percent to $528.4 million.
“Based on the ratings performance of our networks and the year-over-year revenue growth we have seen across all of our businesses in the first quarter, I am pleased to report that Univision is off to a strong start in 2012,” said president and CEO Randy Falco. “We have achieved important milestones, including the launches of two of our three new cable networks – Univision tlnovelas and Univision Deportes – which have meaningfully expanded the breadth of our content distribution and provided new, targeted touch points for our advertising clients to engage with the growing Hispanic community.”
He added: “We are encouraged by the early performance of these networks and look forward to realizing the full revenue potential of our programming portfolio across new and existing platforms as we continue to grow through the year.”
