Univision Earnings Rise, CEO Eyes Record First-Quarter Political Ad Revenue

Spanish-language media giant Univision Communications, a couple of days after unveiling a deal that will see an investor group led by former Viacom CFOacquire a 64 percent stake in it, on Thursday said it swung to a fourth-quarter profit amid higher revenue and lower expenses.

During its latest quarter, Univision posted earnings of $94.4 million, compared with a year-ago loss of $72.7 million. Focusing on earnings from continuing operations, the latest figure reached $93.9 million, compared with a year-ago loss of $40.2 million. The latest figure included a non-cash impairment loss of $29.5 million, restructuring, severance and related charges of $8.4 million and losses primarily related to the investment in the El Rey network, of $52.2 million.

Quarterly adjusted operating income before depreciation and amortization , another profitability metric, edged up 1 percent to $230.4 million. Fourth-quarter revenue rose 1 percent to $$692.9 million, with core revenue down 1 percent to $676.6 million. Univision reported a 2 percent revenue increase at its media networks unit where advertising revenue climbed 1 percent to $340.3 million. Media networks unit non-advertising revenue, including carriage fees and content licensing, rose 2 percent to $286.5 million in the latest period, driven by higher subscriber fee revenue.

Quarterly direct operating expenses related to programming, excluding variable program license fees, decreased 8 percent to $161.0 million due to"decreases in sports programming costs of $18.9 million resulting from both a lower number of games in 2019 and favorable playoff economics, partially offset by increases in entertainment programming costs of $3.9 million and news programming costs of $0.5 million.

telemundo outsold😌

omg

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

L Brands tops lowered earnings expectations as it preps to take Victoria's Secret privateL Brands reported earnings and sales for the holiday quarter that topped analysts' expectations, as it prepares to take its Victoria's Secret lingerie business private.
Source: CNBC - 🏆 12. / 72 Read more »

Giant Nexstar Emphasizes Local News: Q4 Profit Dips, Sales Surge After Tribune MergerThe nation’s biggest television broadcaster Nexstar Media Group Wednesday reported net income dipped 26% on a 39% jump in revenue in the fourth quarter spurred by its acquisition of Tribune Broadca…
Source: DEADLINE - 🏆 109. / 63 Read more »

Salesforce co-CEO Keith Block steps down, Marc Benioff is CEO - Business InsiderA big CEO shakeup at Salesforce as one of its co-CEOs — who only took the job in 2018 — steps down, after being with the company since 2013.
Source: BusinessInsider - 🏆 729. / 51 Read more »