Univision reported lower first-quarter profits as it continued to pay down debt.
Net income fell to $58.1 million compared to $66.7 million a year ago. The 2017 results include a $9.5 million loss incurred extinguishing debt.
Revenues rose 4.9% to $692 million. Advertising revenue was down 7.9% to $395.3 million.
Income from Univision’s media networks fell 6.3% to $278.7 million. TV ad revenue was down 10.5% to $315.5 million. Digital ad revenues were up 31.8% following the acquisition of the former Gawker Media properties. Non-advertising revenue for Univision’s media networks was up 28% to $295.4 million
“We started the year with revenue growth, driven by increases in the subscription fees we receive for the distribution of our content,” said CEO Randy Falco. “We continue to grow our estimated average monthly unduplicated media consumer reach, which increased by 34% to 108 million in the first quarter compared to the same period last year, reflecting our strategy of expanding our digital footprint. This reach underscores the strength of Univision's unparalleled relationship with Hispanic America as their number one media destination for entertainment, sports and news—on broadcast, cable, radio and online.”
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