Univision Q2 Revenues Up, Profit Down
August 2, 2012 at 3:30 PM (PT)
UNIVISION Q2 net revenues rose 3.8%, but its net profits fell 61.5% to $31.8 million, reports THE WRAP. The red ink was due to higher selling, general and administrative expenses, restructuring, severance and related expenses, and interest expense. On the plus side, both radio and TV revenues increased, while interactive revenues took a slight dip..
"Our mission and strategy continue to be validated by the proliferation of Hispanic-focused media outlets in this country, but we remain far ahead of the pack," Pres./CEO RANDY FALCO said. "In the second quarter of 2012, we worked to bolster our position on the cutting edge of Hispanic media and augmented our digital presence with the launch of our digital network, UVideos. We continue to develop our three new networks, and are forging ahead with our groundbreaking partnership with ABC NEWS."
He added that the company is on track to "deliver strong results and continued growth in audience engagement in 2012."