The Mexican media company Televisa This Thursday, it reported net profits of 1,544.2 million Mexican pesos (about 77.8 million dollars) in the first nine months of 2024.
According to its third quarterly report issued to the Mexican Stock Exchange (BMV) in the year, the Mexican media conglomerate almost completely recovered the decline recorded in the same period last year, when lost 1,589.3 million pesos (almost 80.1 million dollars).
Televisa reported that its accumulated income in the January-September period were reduced to 47 thousand 034.5 million pesos (about 2 thousand 369.5 million dollars), after the 49,863 million pesos (almost two thousand 512 million dollars) that it registered in the same period of 2023.
The reduction in their income is due to the constant decline of its Sky satellite television business.
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Record second quarterly advance of the year
Only in the period July-September 2024, Televisa reported net profits of 670.5 million Mexican pesos (about 33.8 million dollars), its second quarterly report to investors with a positive balance.
In the same period of 2023, The company indicated a net loss of 1,051.6 million pesos (almost 53 million dollars).
In the first quarter of 2024, Televisa reported net profits of 951.7 million pesos (around 478 million dollars) and in the second period a net loss of 78 million pesos (about 4 million dollars).
For its part, the Mexican conglomerate detailed that revenues in the third quarter of the year decreased by 6.4 percent to 15,362.8 million pesos (about 773.9 million dollars), compared to the 16 thousand 416 million pesos (around $827 million) in the third quarter of 2023.
“This decrease was mainly due to the drop in revenue at Sky of 13.2 percent. The profit of the operating segments decreased 4.7 percent, translating to a margin of 37.1 percent”, the company detailed.
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In the same report, it was reported that Emilio Azcarraga Jean, executive president of the Board of Grupo Televisa, has requested a leave of absence with immediate effect while an investigation is carried out by the United States Department of Justice in relation to the International Federation of Football Association (FIFA).
Televisa closed 2023 with net losses of 10,611.6 million Mexican pesos (about 616.9 million dollars), after net benefits of 45 thousand 283.9 million pesos (2 thousand 632.8 million dollars) in 2022.
The company attributed this drop to the absence in 2023 of the profit from discontinued operations due to the merger between Televisa and Univisión, as well as the decrease in its operating income before other expenses, a increase in other net expenses and an unfavorable change in profit or income tax expense.
With information from EFE.
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