MIAMI — Univision Communications reported that consolidated first quarter revenue rose 10% to $214 million from $195 million a year ago.
Company recorded a net loss of $900,000, however, due to a one-time charge related to an unconsolidated subsidiary. That $8.5 million charge resulted from an accounting change and restatement of results at Entravision. Univision has a 31% stake in Entravision, which owns Univision stations.
Without the charge, Univision would have reported net income of $7.6 million, vs. $5.9 million a year ago.
First quarter revenue included $13.4 million from new broadcast network Telefutura, which bowed Jan. 14. Univision’s operating income declined due to losses associated with the launch of its second net.
Univision predicts it will continue to outperform the general market. It estimates its second quarter revenue at $319 million-$331 million and full-year revenue will reach $1.13 billion-$1.17 billion.
Univision expects to launch five pay TV channels in the third quarter under its joint venture with Mexico’s Televisa. Univision has one pay TV channel, Galavision.
Univision will hold a separate upfront for Galavision on Tuesday. Presentation will be led by Univision television networks prexy and chief operating officer Ray Rodriguez, Galavision VP of programming and production Margarita Black and Galavision national sales director Tracey Rivera.
Univision will hold the presentations for its broadcast nets Univision and Telefutura on Wednesday.