Latest Financial Postings: Q1 2003

30 April 2004

Grupo Televisa (calendar Q1)
    Televisa, which commands almost 70% of Mexico's television market, reported an 81% leap in first-quarter profit, fueled by a rise in revenues from broadcasting and publishing.
    It posted net income of pesos 472 million ($41.39m; €35.0m; £23.50m), compared year-on-year to pesos 260.6m, bettering analysts' consensus of pesos 436m.
    Overall sales increased to pesos 5.23 billion, while TV ad sales rose by over 4%, driven by increased local sales at Mexico City's Channel 4TV.
    EBITDA (earnings before interest, tax, depreciation and amortization), rose more than 10% to pesos 1.5bn, beating a market forecast of pesos 1.41bn.

Time Warner (calendar Q1)
    Net income more than doubled, boosted by strong results in TW's film and cable-networks divisions and improved contribution from its enfeebled America Online unit.
    The media conglomerate posted net income of $961 million (€812.83m; £545.66m), compared with $396 million a year earlier. Revenue rose 9% to $10.1 billion.
    The quarter's results show that the group's businesses are mostly back on track, nearly two years after a new management team took over in the wake of TW's unhappy merger with AOL.
    However, the world's largest media conglomerate remains under investigation by the Securities and Exchange Commission over accounting issues, mostly AOL-related.

Data sourced from multiple origins; additional content by WARC staff