Mexico's Televisa Q4 net profit seen up on higher sales

Mexican media and telecommunications company Grupo Televisa SAB is expected to report a modest increase in net profit in the fourth quarter of 2011, compared with a year earlier, on higher sales and operating gains.

Mexico's biggest broadcaster and the world's leading producer of Spanish-language television programming likely had net profit of 2.68 billion pesos ($192 million) in the October-December period, a 2.1% increase over the year-ago quarter, according to the median estimate of seven analysts consulted by Dow Jones Newswires.

Revenue is expected to rise 7.4% to MXN17.71 billion, and operating cash flow measured by earnings before interest, taxes, depreciation and amortization is seen rising 9.1% to MXN7.21 billion, according to the survey.

Credit Suisse analysts said they expect "a modest quarter," with still unfavorable comparisons for broadcast advertising since companies controlled by telecommunications magnate Carlos Slim withdrew advertising from Televisa at the beginning of 2011.

The investment bank said it expects broadcast revenue to be up 4.5% from a year earlier, and that it will be the last quarter to show the unfavorable comparison effect.

Analysts expect solid growth in pay television and telecommunications businesses, and a positive effect on programming sales from Televisa's extended agreement with U.S. Spanish language broadcaster Univision.

Televisa is expected to report its fourth-quarter and full-year 2011 earnings after the market close Thursday.

Source: Total Telecom

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23 April 2024

22 04 2024