February 15, 2011 / 4:48 PM / 7 years ago

PREVIEW-Mexico's Televisa quarterly earns seen doubling

 * WHAT: Grupo Televisa Q4 results
 * WHEN: Thursday, Feb. 17
 * REUTERS FORECAST: Net profit expected to double
 MEXICO CITY, Feb 15 (Reuters) - Mexico’s leading broadcaster, Televisa, is expected to report fourth-quarter profit doubled from a year ago, with pay television services continuing to drive revenue growth.
 According to a poll of seven analysts, Grupo Televisa (TV.N), whose soap operas are watched across the globe, is expected to post earnings of 2.38 billion pesos ($193 million) for the October-December period, up from 1.19 billion pesos a year earlier, when results were dented by foreign exchange losses.
 Televisa’s (TLVACPO.MX) quarterly revenue is expected to rise 7 percent to 16.22 billion pesos thanks to “strong growth in the satellite and cable units,” Citigroup said in a report.
 Revenue from broadcast television, the company’s core business, is likely to be up 3.8 percent, the brokerage added, as consumer spending continues to gradually recover.
 Televisa owns three top cable television companies in Mexico, including Cablevision (CABLECPO.MX), the main provider of the service in the profitable metropolitan area. It also operates a direct-to-home satellite unit, SKY.
 Earnings before interest, tax, depreciation and amortization (EBITDA) are expected to be up more than 12 percent, the poll showed.
 The company is due to report results on Thursday.
 Following is a table with the expected results; all figures are in pesos: ==============================================================
                       OCT-DEC      OCT-DEC      PERCENTAGE
                         2010        2009          CHANGE -------------------------------------------------------------- Revenue                  16.22 bln    15.16  bln    + 7.0 pct EBITDA*                   6.37 bln     5.67  bln    +12.3 pct Operating profit          4.76 bln     4.30  bln    +10.7 pct Net profit                2.38 bln     1.19  bln   +100.0 pct ==============================================================
 * Televisa does not disclose earnings before interest, tax, depreciation and amortization. Figures provided by the analysts  ($1 = 12.31 pesos as of end-December)  (Reporting by Tomas Sarmiento; editing by John Wallace)   

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