Televisa presented its financial results for the fourth quarter of 2016 in which it reported a 9.4% annual growth in net sales but a 56.7% fall in profit.
Net sales increased to MX$ 96,287.4 million (USD 4.85 billion) in 2016 compared with MX$ 88,051.8 million (USD 4.44 billion) in 2015. This increase was attributable to strong growth in Content segment, and double-digit growth in Sky and Cable segments.
Net income declined from MX$ 12,325.4 (USD 621 million) in 2015 to MX$ 5,333.4 (USD 269 million) in 2016, due to expenses that overshadowed its growth in sales.
In Content segment, fourth quarter sales increased by 8.6% to MX$ 11,690.9 million (USD 589 milllion). Full year sales increased by 6.9% to MX$ 36,686.7 million (USD 1.85 billion).
In turn, Sky Q416 sales increased by 9.8% to MX$ 5,505.1 million (277 million) and the full year sales increased by 14.0% to MX$ 21,941.2 million (USD 1.11 billion). The number of net active subscribers increased to 8.03 million. Sky closed the year with 206,814 subscribers in Central America and the Dominican Republic.
In Cable segment, Q416 sales increased by 9.8% to MX$ 8,313.2 million (USD 419 million) and annual sales increased by 11.9% to MX$ 31,891.6 million (USD 1.6 billion). At the end of Q416, the company reported 4.21 million video RGUs, 3.41 million of broadband and 2.11 million voice RGUs.