Revenue growth drives Azteca Q3
EmptyMEXICO CITY -- TV Azteca, Mexico's No. 2 network, on Wednesday posted a 16% increase in third-quarter net income thanks to solid revenue growth at home and in the U.S.
The Mexico City-based broadcaster reported a quarterly net profit of 487 million pesos ($44 million), up from 420 million pesos a year earlier.
Net sales rose 7% for the period to 2.34 billion pesos.
"We achieved outstanding revenue as a result of the optimal commercialization of our programming grids in Mexico, together with the continued sales dynamism in the U.S. Hispanic market," Azteca chief executive Mario San Roman said in a statement.
Azteca America, TV Azteca's U.S. Spanish-language broadcasting network, took in 125 million pesos in ad revenue, up 33% from the same period a year ago. Azteca America reaches 52 markets that represent 88% of the U.S. Latino population.
Programming exports jumped 9% for the quarter, driven by sales of Azteca's hit telenovela "Amor en Custodia."
Owned by billionaire Ricardo Salinas, TV Azteca operates two national networks in Mexico.