Televisa's net profits fall 6.8% on foreign exchange losses

- Friday, October 21, 2011

Televisa's net profits fall 6.8% on foreign exchange losses

Mexican broadcaster Televisa, which has interests in cable and satellite TV and telecommunications, saw third quarter profits fall 6.8% to 2.05bn pesos (US$145mn), due to foreign exchange losses, the company said in a statement.

The company said revenue rose 8.1% to 15.96bn pesos from 14.77bn pesos the previous year, thanks to the growth of its cable TV companies.

Profit margins from the cable TV and telecommunications business grew to 35.3%. Sales of pay-TV programming rose 15% to 931mn pesos. Satellite TV provider Sky added 238,000 subscribers in the quarter for a total of 3.8mn.

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Televisa's cable TV and telecommunications business saw sales rise 13.1% to 3.39bn pesos with 542,469 revenue generating units added for Cablevisión, Cablemás and TVI, boosted mainly by triple play packages.