Televisa Revenue Falls 3.8% to 14.08 Billion Pesos in Third Quarter of 2026
Key Facts
Grupo Televisa revenue fell 3.8% year over year to 14.08 billion Mexican pesos in the third quarter of 2026, Reuters reported, citing the company's results. The agency said weakness in satellite television services outweighed growth in business services, weighing on total revenue. By contrast, the company posted net income of 882.7 million pesos, after a loss of 1.93 billion pesos in the same period of 2025. The company announced the results on October 29 and scheduled a call to discuss them the same day. The results highlight a divergence between the return to net profit and continued contraction in quarterly revenue.
Reuters attributed the return to profitability mainly to a 2,890 million peso decline in income tax provisions compared with the third quarter of 2025, along with lower financial expenses. This helped offset the loss recorded a year earlier, but the improvement in net income did not necessarily reflect a comparable improvement in operating activity. The company said higher other expenses and lower income from associates limited the improvement.
The company attributed Enterprise growth mainly to the signing of new projects with the public and private sectors. This gap is consistent with Reuters' explanation for the quarterly revenue decline: weakness in satellite television services outweighed growth in business services. It shows that expansion in project activity was not enough to offset the contraction in satellite services during the period. The available information did not give revenue figures for either segment, so the comparison here is limited to the percentage changes reported by the company.
The broadband subscriber base reached 5.7 million in the third quarter, with about 9,000 net additions. Mobile subscribers totaled 888,000, after 68,000 net additions. These figures point to continued growth in the company's telecommunications customer base, alongside expansion in business services. Subscriber growth, however, did not prevent a decline in total revenue, amid the greater impact Reuters attributed to weakness in satellite services. The information does not break out revenue from broadband or mobile services, or their contribution to quarterly results.
The current decline followed a similar drop in the second quarter of 2026, when quarterly revenue fell 3.0% to 14,288.9 million pesos, compared with 14,729.4 million in the second quarter of 2025. In the first quarter, the company said operating segment income rose 5.2%, with a margin of 41.4%, as the margin expanded by about 330 basis points year over year on efficiency and synergies. These earlier results put the third quarter in the context of continued revenue pressure, following improved operating segment income indicators in prior periods. Third-quarter comparative figures show that higher OSI income did not prevent a decline in consolidated operating income, according to the company's statement. The differences between segment results and the company total remain important to understanding the divergence between improvement in some activity indicators and net profit, and weak revenue.
In a strategic move separate from the quarterly results, Grupo Televisa agreed to buy AT&T México's business, with completion expected in the first quarter of 2027, subject to regulatory approval, according to the angle in the results package. The approved information does not include details on the deal's value or expected financial impact. TelevisaUnivision also announced on October 29 its results for the third quarter ended September 30, 2026, and scheduled a call to discuss them at 11:00 a.m. Eastern Time. The anticipated deal sets a further regulatory milestone for the company after a quarter marked by lower revenue and a return to net profit. Completion is expected in the first quarter of 2027, with regulatory approvals remaining a condition of the deal.