Univision Communications Inc.’s first-quarter revenue surged 18%, thanks to increased market and advertising share, the company reported Thursday.
For the quarter ended March 31, the Los Angeles-based Spanish language broadcaster reported actual revenue of $85.6 million, compared to pro forma revenue of $72.7 million for the same period last year.
Univision reported a first-quarter loss of $2.3 million, sharply below the $20.9 million in red ink for the same period reported on a pro forma basis for 1996.
“Our strong first-quarter results demonstrate the continued progress we’re making toward the goal of becoming a core media buy for advertisers and closing the gap between Univision’s audience share and share of advertising revenue,” said George Blank, Univision’s exec VP and chief financial officer in a statement.
Analysts say Univision’s results are a bit better than expected.
“The company looks very strong, far above any broadcaster,” said Frank Bodenchak, an analyst with Morgan Stanley in New York, referring to Univision’s first-quarter growth, which is nearly five times the industry average for the period.
Univision’s stock closed Thursday at $32.87, down $1.12 in New York Stock Exchange trading.