First-quarter revenues were up 23% at numero uno U.S. Hispanic media company Univision Communications. The Spanish-language company saw its revenue grow to $433 million from $352.9 million in 2004 for the three months ended March 31.

Profits spiked 41% to $44.5 million from $31.6 million the previous year.

Growing interest among Hispanic youth for all things Spanish has driven Univision’s success, according to Univision chairman and CEO A. Jerrold Perrenchio.

“This quarter, on three out of every four nights, the Univision Network delivered a larger adult 18-34 audience than one or more of the Big Four English-language networks among both Hispanics and non-Hispanics in primetime,” said prexy and chief operating officer Ray Rodriguez, who pointed to increased audience penetration across all Univision’s platforms.

Univision’s tubthumping comes on the eve of the May upfronts in New York where it hopes to translate its good news into more ad coin. Net has only half of the top 300 advertisers as clients.

Univision fledgling sister net TeleFutura saw its first-quarter adult 18-49 total day audience down slightly by 8,000 viewers compared with last year.