Hemisphere Media (HMTV) Reports Q1 Revenues Below Estimates

Hemisphere Media (NASDAQ: HMTV) reported Q1 revenue for the quarter came in at $35.1 million versus the consensus estimate of $36 million.

President and Chief Executive Officer of Hemisphere, Alan Sokol, said, "We have had a strong start to 2019, as we continue executing on our strategy of providing unique and compelling content to large, fast-growing and underserved audiences.

The Puerto Rico economy continues to show steady improvement, which is reflected in our strong revenue growth. Our U.S. cable networks also continue to perform well. The launch of Pasiones nationally on Spectrum and renewal of Cinelatino\'s carriage agreement with Dish both affirm the importance and value of our networks.

We are also very encouraged by the robust ratings growth in Canal 1, which increased its total day audience share by 69%, as compared to Q1 2018, including 121% growth in prime time, Monday to Friday.

Looking forward, the progress we are making across our networks and strategic investments positions us to continue to drive strong growth and long-term shareholder value."

For earnings history and earnings-related data on Hemisphere Media (HMTV) click here.

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