Grupo Televisa’s net profit attributable to stockholder more than doubled in the first quarter of 2017 due to a favorable change in foreign exchange income as a result of the Mexican peso appreciation against the dollar. Televisa reported net income of MX$ 1,350.4 million in Q117 (USD 72 million) compared to MX$ 600.4 million (USD 32 million) in previous year, representing an increase of 124.9%.
“The net increase of MX$ 750.0 million reflected primarily a MX$ 1,475.2 favorable change in foreign exchange gain or loss, net, as a result of the Mexican peso appreciation; and a MX$ 101.5 million decrease in other expense, net”, the company said in its quarterly report, released on April 26.
Net sales increased by 2.0% to MX$ 22,177.1 million (USD 1.16 billion) in first-quarter 2017 compared with MX$ 21,741.0 million (USD 1.14 billion) in first-quarter 2016. “This increase was mainly attributable to revenue growth in Cable and Sky segments”.
However, Q117 Advertising revenue decreased by 7.8% to MX$ 4,128.2 million (USD 217 million) compared with MX$ 4,478.7 million (USD 236 million) in Q116. The drop in revenues is mainly explained by the reduction in advertising expenditures by certain clients in the banking, telecommunications, and high-caloric products industries.
At the end of Q117, Sky had 8 million net active subscribers, of which 207,827 subscribers belonged to its operation in Central America and the Dominican Republic. Cable segment registered 9.5 million RGUs: 4.06 million of video, 3.38 million of data and 2.06 million of voice.