TV Azteca Q118 net profit down 56%, sales up 12%

TV Azteca announced its financial results for the first quarter 2018. The company registered net profit of MX$ 173 million (USD 9.1 million) compared to MX$ 398 million (USD 21 million) for the same quarter of 2017. Net sales for the quarter were MX$ 3,427 million (USD 181 million), up 12% from previous year.
The company said that domestic advertising sales grew 19% to MX$ 2,709 million (USD 143.2 million). “During the period, we generated content with cutting-edge, agile and innovative proposals, which translated into growing audiences and a solid positioning of our formats in the Mexican media market,” commented Benjamín Salinas, CEO of TV Azteca. “This further boosted the strong demand for advertising space on TV Azteca platforms, and increased domestic sales by double digits in the quarter.”
Content sales to other countries were MX$ 89 million (USD 4.7 million) in the quarter, from MX$ 25 million (USD 1.3 million) in the previous year. In turn, revenue from TV Azteca Guatemala and TV Azteca Honduras was MX$ 13 million (USD 687,300) while Azteca Comunicaciones Perú reported revenue of MX$ 94 million (USD 4.9 million).
During the quarter, TV Azteca organized the golf tournament WGC Mexico Championship for the second consecutive year. The income generated from this tournament was MX$ 522 million (USD 27.6 million), in comparison to MX$ 556 million (USD 29.4 million) from previous year.