TV Azteca revenue falls 8% in Q3

Net income down 4.6% to $37 million compared to 2004

TV Azteca, Mexico’s No. 2 net, Monday said third-quarter revenue fell 8% to $194 million, down in the absence of the windfall ad coin earned last year from the Olympic Games.

In a filing after market close, TV Azteca said net income was down 4.6% to $37 million compared to the same period in 2004. Results were in line with analysts’ expectations.

Net also blamed payments to the Mexican soccer league for rights this fall and production costs for U.S. web Azteca America for crimping profits.

“The absence of extraordinary revenue derived from the 2004 Summer Olympic Games was significant this quarter, representing almost 12% of net revenues a year ago,” said TV Azteca CEO Mario San Roman in a statement, adding the company expected better results in the fourth quarter.

Programming exports fell more than 50% to $1 million compared to sales in excess of $2 million during the third quarter of 2004.

Net’s chairman and majority shareholder, Ricardo Salinas Pliego, faces fraud charges in the U.S., and company’s stocks stopped trading in late July in New York.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety

Loading