Televisa Faces Financial Turbulence in Second Quarter

Mexico's largest broadcaster, Televisa, reported a net loss of 25.6 million pesos in Q2, compared to a net profit of 133.5 million pesos last year. Revenue declined by 5.8% to 15.72 billion pesos, primarily due to a 13.3% drop in SKY satellite TV unit income.

Mexico's largest broadcaster Televisa on Tuesday reported a net loss of 25.6 million pesos ($1.4 million) for the second quarter, impacted by rising costs and reduced revenue.

The net loss contrasts with a net profit of 133.5 million pesos for the same period last year, as detailed in the earnings report. The company's total revenues dipped by 5.8% to 15.72 billion pesos, largely attributable to a 13.3% decline in revenue from its satellite television unit, SKY.

During the quarter, SKY experienced 262,000 disconnections, while Televisa's cable segment added approximately 10,700 broadband subscribers but lost around 65,600 video subscribers, resulting in a 3.1% revenue decrease. ($1 = 18.2862 Mexican pesos at end-June)