Mexican media giant Televisa beats earnings forecasts despite satellite slump

By Sarah Morland

MEXICO CITY, April ‌28 (Reuters) - Mexican ​broadcaster Grupo ​Televisa, a top producer of Spanish-language content, on Tuesday posted a first-quarter net profit that more than tripled from a year ‌earlier, as it expanded margins despite shrinking revenue.

The better-than-expected results set ⁠Televisa on positive footing at the start of 2026, after the company posted three consecutive years ‌of heavy net losses as ‌it looks to boost its internet services to offset falling demand for satellite TV.

Televisa, which provides home and mobile internet with its Sky and Izzi ​brands and broadcasts popular shows such as Mexican drama "La Rosa de Guadalupe", reported a net profit of 1.03 billion pesos (around $57 million) for the first ⁠three months of 2026, versus 319.8 million pesos a year earlier.

Revenue meanwhile dropped 3.1% to 14.51 billion pesos (around $809.5 ​million), narrowly surpassing the $808.9 million estimate of analysts polled by LSEG, while the bottom line far surpassed their $1.9 million forecast.

The ​company attributed the lower revenue to a 25% ‌slump in its satellite segment, which broadcasts exclusive content such as sports and concerts. Operating profits, however, expanded as it ⁠spent less on corporate expenses and taxes.

It also benefited from more income tied to a bigger stake in its combined company with U.S. Spanish-language network Univision, now at 44.3% ⁠from a prior 43.2%.

Through the joint company, Televisa plans to broadcast around a third of ​FIFA World Cup matches on open TV and the remainder on its ViX Premium streaming service.

Despite the satellite slump, Televisa's smaller business services division surged 30% and its residential telecom ‌operations, which made up the bulk of income, edged up by around 1% as it added new fiber and broadband ‌subscribers.

The company's capital expenditures jumped to about $142 million in the quarter from $87 million a ⁠year ago, the company said, ‌while its total net debt ​position ended in March at 49.75 billion pesos.

($1 = 17.9252 Mexican pesos at end-March)

(Reporting by Sarah Morland; Editing by Natalia Siniawski and ‌Lisa Shumaker)

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