Shares in Mexico's TV Azteca up more than 5% after Q4 results

Shares in Mexican broadcaster TV Azteca post record slump
The logo of broadcaster TV Azteca is seen outside its headquarters in Mexico City, Mexico March 22, 2023. REUTERS/Henry Romero

MEXICO CITY, March 28 (Reuters) - Shares in Mexican broadcaster TV Azteca rose more than 5% on Tuesday, a day after the publication of its fourth quarter 2022 results.

The company posted a net profit of 125.42 million pesos, down from the 249.07 million pesos from the year-earlier period, but alongside a reported 31.14% surge in revenue to 5.2 billion pesos.

Stock in Mexico's second-biggest broadcaster suffered a daily fall of more than 30% last week after the firm's creditors filed an involuntary petition to place it in U.S. Chapter 11 bankruptcy protection, but later recovered some ground.

Reporting by Noe Torres and Valentine Hilaire; Editing by Isabel Woodford

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