Televisa’s quarterly revenue falls as advertisers spend less

07/10/2017 Reuters

televisa-logoMexican media company Grupo Televisa (TLVACPO.MX) on Monday posted a dip in second-quarter revenue, missing some analysts’ expectations as advertisers spent less on television commercials.

The broadcaster, known for its “telenovela” soap operas, reported a 1.5 percent fall in revenues to 23.162 billion pesos ($1.28 billion, below average analyst expectations of 23.63 billion pesos, according to Thomson Reuters data.

Advertising revenue dropped 9.8 percent as some clients reduced the amount of their budgets allocated to television, Televisa said in its report.

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