Univision Communications reported a profit in the first quarter as its media networks boosted income and revenue.
Univision had net income of $65.7 million in the first quarter, compared to a loss of $139.7 million a year ago.
Revenues rose 5.7% to $600.4 million. Total ad revenue was up 5.1% to $430 million.
“We have started 2016 with strong results for the first quarter, delivering 11.1% Adjusted OIBDA growth and 5.7% total revenue growth from 2015. In the quarter we celebrated the 4th anniversary of the launch of UDN, the number one sports cable network for U.S. Hispanics and our news division had leading coverage of events impacting our community including the most watched presidential debate by U.S. Hispanics” said CEO Randy Falco,
“Over the last five years we have taken great strides to diversify our portfolio of assets, the audience we reach and our revenue streams. We have been laser-focused on broadening our content offering by expanding our distribution platforms and our digital portfolio and building on our Enterprise products and services division and community empowerment initiatives which all serve to reinforce our unique relationship with our audience. We remain focused on our strategy to enhance our multimedia offerings across platforms and inform, entertain and empower the communities we serve,” Falco said.
Operating income at Univision’s media networks division rose $11.4% to $305 million. Revenues rose 7.3% to $602 million. Ad revenue rose 7.1% to $373 million, including 6 million in political and advocacy advertising.