MEXICO CITY (Reuters) -Grupo Televisa, Mexico’s largest broadcaster, reported on Thursday a net loss in the fourth quarter of 13.75 billion pesos, hurt by losses related to TelevisaUnivison and declines in its satellite TV units.
The result compares with a net profit of 3.7 billion pesos in the year-earlier period, according to a statement filed with the Mexican stock exchange.
The company’s revenue increased 1.6% from the year-earlier period to 19.13 billion pesos, slightly missing the Refinitiv forecast of 19.28 billion pesos. TelevisaUnivision, a firm that combines content with U.S. broadcaster Univision, has rolled out a subscription-based version of streaming platform, ViX+, which will compete with established rivals like Netflix Inc and Amazon.com Inc’s Prime Video.
Televisa said in its statement that it saw losses partially related to depreciation in the value of the TelevisaUnivision venture recognized in the quarter.
Sky, Televisa’s satellite TV unit, had about 410,400 disconnections of revenue generating units, and sales in the quarter decreased by 8.1%.
Shares of Televisa closed slightly higher with a gain of 1.15% on Thursday the company released its report.
(Reporting by Carolina Pulice and Noe Torres; Writing by Cassandra Garrisson; Editing by Brendan O’Boyle and Bradley Perrett)
