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Univision Posts Loss in Second Quarter

Univision Communications reported a loss in the second quarter as revenues fell compared to last year, when its networks covered soccer’s World Cup.

The company lost $23.9 million in the quarter, compared to net income of $98 million a year ago.

Revenue fell to $696.3 million from $833 million a year ago. The company said the World Cup generated $115.5 million in incremental revenue a year ago. Excluding the World Cup, revenues decreased 1.7%.

“During the 2015 second quarter, we continued to execute on our strategy to deliver a Univision branded experience and target bilingual and millennial audiences with tailored ‘must-see’ content across platforms, which included signing a deal with Netflix to stream top Univision and UniMás content,” said CEO Randy Falco. “Given our extensive engagement with U.S. Hispanics – a demographic group which is over 57 million strong, rapidly growing and young, with more than an estimated $1.3 trillion in buying power – and our collection of strong media brands, we are well positioned in our industry and poised for future long-term growth.”