Mexico City.- Grupo Televisa reported a net loss of 25.6 million pesos (1.4 million dollars) in the second quarter on Tuesday due to a drop in revenue and higher expenses.
The negative result compares with a net profit of 133.5 million pesos recorded in the same period in 2023.
Televisa’s quarterly sales fell 5.8 percent year-on-year to 15.72 billion pesos, dragged down by a 13.3 percent drop in revenue from its Sky satellite television business, while revenue from its internet and cable television segment fell 3.1 percent.
The company also suffered an increase of 334.8 million in other expenses during the period.
Its shares closed Tuesday at 8.47 pesos on the Mexican Stock Exchange (BMV) with a drop of 2.31 percent, before the release of the results.
With information from Reuters
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