Globo increases revenues in 2018, but Group has a 26% fall

Grupo Globo’s balance sheet, published last March 12th, showed that Brazil’s largest broadcaster managed to increase its revenues in 2018 but, despite that, it had a 26% fall due to the increase in operating costs. According to the report, only Globo TV and its Internet portal had an operational deficit of USD 139.7 million, against USD 22.9 million negative in 2017. This comes as a result of the increase in costs caused by coverages such as the World Cup in Russia, into other reasons.

According to the report, Globo increased its net income from USD 2.58 billion in 2017 to USD 2.64 billion in 2018, reversing a decline that had been repeated since 2015. That year, the company’s revenue was lower: USD 2.93 billion in 2015, and USD 2.79 billion in 2016.

Globo also had an increase in its financial income: TV and the Internet portal raised from USD 143.6 million in 2017 to USD 245.1 million in 2018, a record figure in recent years. The results of the whole group recorded an operating income of USD 263.6 billion in 2018, when in 2017 the number remained at USD 474.5 billion. Net income had a decline from USD 3901 billion in 2017 to USD 3875 billion last year. The group’s financial income also increased from USD 248.6 to 286.3 billion.

Operating costs on TV increased from USD 2 billion in 2017 to USD 2, 21 billion last year. For Grupo Globo, 2017 operating costs increased from USD 2.58 billion to USD 2.87 billion. With all these items into consideration, Globo Group recorded a 26.4% fall in revenues. In 2017 the number reached USD 4.87 billion, and in 2018 the number decreased to USD 3.58 billion.