Univision Q1 Revenues Up, Loss Widens
May 16, 2008 at 5:48 AM (PT)
UNIVISION first-quarter net revenue increased 5.8% to $458.8 million, with radio revenues up from $83.4 million to $85.8 million. However, the company's net loss from continuing operations widened from $68.2 million to $99.2 million.
CEO JOE UVA says, "I am pleased that UNIVISION achieved another period of positive results with both our Television and Radio businesses substantially outperforming the broadcast industry. The UNIVISION Network attracted more young adults than CBS to rank as the #4 network for the entire quarter among young adults, UNIVISION RADIO continues to deliver exceptional audience share growth and improvement in rank in key markets, and Univision Online forged important partnerships with CNET, the NFL and VERIZON WIRELESS to leverage and build on its unmatched popularity among U.S. Hispanics.
"Looking to the 2008-2009 Upfront, we feel confident in our competitive position," added UVA. "We are excited to bring the new ROI tool developed with NIELSEN to the market, which will provide marketers with valuable television viewing data fused with purchase information to help accurately target consumers, maximize their advertising spending and grow their businesses."
CFO ANDREW HOBSON added, "Our Television and Radio businesses continued to grow in the first quarter with our revenue growth significantly outperforming the overall broadcast industry."