TV Azteca released this week its financial results for the first quarter of 2017. The company reported profits of MX$ 404 million (USD 21.5 million), compared to a net loss of MX$ 554 million (USD 29.5 million) for the same quarter of 2016.
Net sales for the quarter grew 21% from previous year to MX$ 3,292 million (USD 175 million). The company reported an EBITDA of MX$ 446 million (23.7 million), 16% less than last year.
As of the first quarter of 2017, TV Azteca no longer consolidates the results of Azteca Comunicaciones Colombia in its financial statements, which means that only its 40% share in the results of the telecommunications company is recognized in the line of equity in income from affiliates.
Domestic advertising sales grew 5% to MX$ 2,175 million (USD 115.7 million) “due to the generation of programming grids that effectively reached the target market for numerous advertisers in Mexico”, TV Azteca said in the report.
The company’s the wholly-owned broadcast TV network focused on the U.S. Hispanic market, Azteca America, registered sales of 337 million (USD 17.9 million) this quarter. Revenue from TV Azteca Guatemala and TV Azteca Honduras was MX$ 14 million (USD 745,000), while in Peru was MX$ 186 million (USD 9.9 million). In turn, content sales to other countries were MX$ 24 million (USD 1.27 million).