Univision Quarterly Earnings Drop on Lower Revenue, Higher Expenses

, on Thursday reported lower second-quarter earnings amid lower revenue and higher operating expenses.

Quarterly revenue declined 4 percent to $701.7 million, with core revenue down 3.5 percent to $694.5 million, including a 1.1 percent drop in media networks unit core advertising revenue. Total networks unit advertising revenue fell 2 percent to $347.2 million "due to declines in television advertising revenue, partially offset by higher digital advertising revenue." Media networks unit non-advertising revenue, including carriage fees and content licensing, declined 6.

Quarterly direct operating expenses rose 9 percent to $273.7 million. Expenses related to programming, excluding variable program license fees, increased 31 percent to $40.0 million in the second quarter, "primarily due to increases in sports programming costs of $45.8 million," driven by Gold Cup and UEFA soccer rights, and higher news programming costs, partially offset by a decrease in entertainment programming costs.

investments in programming and sales, which positioned us for growth," said Sadusky. "In the recently completed 2019/2020 upfront sales cycle Univision achieved the strongest growth in four years.", scrapped plans for an initial public offering and replaced its CFO. The firm then announced that private equity firm Great Hill Partners will buy Univision's digital media group Gizmodo Media Group and The Onion for an undisclosed sum.

Telemundo outsold

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Canadian pot company Tilray's stock slips after posting a wider-than-expected loss for the second quarterThe Canadian pot company missed earnings expectations and beat revenue expectations.
La source: CNBC - 🏆 12. / 72 Lire la suite »

5 things to know before the stock market opens MondayDow is set to drop, 10-year yield goes back under 1.7%, Goldman Sachs lowers growth forecast, Hong Kong protests escalate, and BlackRock buys a major stake in Sports Illustrated's owner.
La source: CNBC - 🏆 12. / 72 Lire la suite »

Saudi Aramco aims to buy Reliance stake, reports lower earningsSaudi Aramco still world's most profitable company despite oil price hit. Read more: EL'REPRESENTANTE'DE DIOS EL 'PAPA'QUIERE PASAR 'AGACHAO'ANTE EL CRIMINAL BLOQUEO,DELITO DE 'LESA HUMANIDAD'DEL IMPERIO CONTRA VENEZUELA,SIGNIFICA COMO EN TODAS LAS ÉPOCAS,QUE EL CLERO ESTA A FAVOR DE LOS IMPERIOS,O QUE SE LAVA LAS MANOS,COMO PILATOS LA BOLAS DEL,RETWITEAR $2 trillion......that's massive . Everybody needs oil !
La source: Reuters - 🏆 2. / 97 Lire la suite »