Univision Q2 Revenue Slides On Advertising Shortfall

Univision Communications Inc.

Univision said total revenue dipped 2% to $749.8 million in the second quarter on a downturn in advertising, highlighting the challenge ahead of the privately held Hispanic media giant.

New CEO Vince Sadusky has been remaking the company in recent months. He will address the status of the rebuilding efforts and discuss the quarterly results on a conference call later today.

Net income inched up to $114.3 million from $106.1 million a year ago. But adjusted operating profit declined 7.5% to $304.1 million from $328.7 million.

Media Networks ad revenue slipped 8% to $372.3 million, which the company chalked up to declines in the television networks’ packaged goods, retail and restaurant sectors and softness in the Company’s local TV business, including declines in the automotive sector.

“While our foundation is strong, Univision has gone through a significant amount of change over the last few months,” Sadusky said in the earnings release. “We are starting an exciting new chapter with a singular focus on our core business and mission: to inform, entertain and empower Hispanic America.”

This article was printed from https://deadline.com/2018/08/univision-q2-revenue-slides-on-advertising-shortfall-1202443010/