Univision Communications Reports 3rd-Quarter Profit
Univision Communications reported third-quarter profit after reporting losses a year ago.
Net income was $77.4 million, compared to an $83.8 million loss a year ago that included $96 million in losses from discontinued operations.
Revenue rose 8.5% to $681.4 million.
Revenue for Univision’s media networks group was up $9.7% to $616.2 million. Ad revenue was up 2.1%, with television down 0.1% because of a drop in political spending. Excluding political, ad revenue for TV was up 1.2%. Digital ad revenue was up 41.1%.
“Univision delivered a strong quarter as we continue to execute on our strategy of being the most consumed media portfolio, and the most effective marketing partner dedicated to the high-growth U.S. Hispanic consumer. We will continue to invest in our Spanish Language business, which this quarter contributed to growth in both revenue and Adjusted OIBDA,” said Vince Sadusky, CEO of Univision.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.