Revenue came in at $628.2 million for the period ending September 30, compared with $759.4 million in the same quarter a year earlier.
Income from continuing operations plummeted to $12.4 million from $109.6 million, and adjusted operating income dropped 34% to $231 million.
“Third quarter financial results were impacted by headwinds including our dispute with Dish, the World Cup’s impact on advertising, lower ratings and the 2018 Televisa PLA rate increase,” said CEO Vince Sadusky in the earnings release. “Longer term, our refocused mission is gaining momentum evidenced by Univision being on pace to win the November sweeps in Spanish language even without carriage on Dish. Our teams are rededicated to the Company’s core mission of serving Hispanic America and with many structural and organizational changes now in place, I am optimistic about our strategy going forward.”
Univision Swings To Q2 Loss Due To 40% Plunge In Advertising Revenue, But Says Q3 Showing Steady Gains - Update
Univision’s flagship broadcast network went dark on Dish in July, and there are no signs of a rapprochement. Earlier this week, the company’s other networks also left the DishLatino package, and on last week’s Dish earnings call, CEO Charlie Ergen said the company would now face a consumer “backlash” were it to restore Univision. As in the case of HBO, which also hit an impasse with Dish, the availability of direct-to-consumer service Univision Now appears to have complicated the traditional distribution relationship.
Sadusky succeeded Randy Falco in the top job last spring as part of a top-to-bottom overhaul of the Hispanic media giant, which has lost ground in primetime to longtime rival Telemundo in recent years. Sadusky and other top execs are scheduled to discuss the company’s quarterly results with analysts during a conference call later today.
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