Grupo Televisa stock returns to profit as revenue falls

Grupo Televisa returned to profit in the third quarter of 2026, although weaker satellite services pulled consolidated revenue lower. The company announced the results on Thursday, October 29, and reported net income attributable to shareholders of 882.7 million Mexican pesos, compared with a loss of 1,932.5 million pesos in the year-earlier quarter. The figures are contained in the company's Form 6-K filing.

Profit Returns Despite Revenue Pressure

Revenue fell 3.8 percent year over year to 14,077.7 million Mexican pesos from 14,627.0 million pesos. The main drag was Satellite Services, where revenue declined 20.5 percent to 2,363.9 million pesos as the revenue-generating-unit base contracted by 28.6 percent. The business recorded 250,603 net disconnections during the quarter, including 230,986 video units.

Enterprise Services provided a counterweight, with revenue rising 6.8 percent to 1,147.8 million pesos. Residential Services revenue was nearly unchanged at 10,566.0 million pesos, down 0.1 percent from the prior-year quarter. Televisa said the residential comparison was affected in part by the phaseout of revenue from World Cup subscription packages.

Operating Efficiency Meets One-Off Costs

Operating segment income increased 5.6 percent to 5,996.0 million pesos, lifting the margin to 42.6 percent from 38.8 percent. The company attributed the improvement to efficiency measures and operating-expense reductions implemented over several quarters. Residential operations added 125,126 net revenue-generating units, led by gains in voice, mobile and broadband customers.

The stronger segment result did not translate into higher consolidated operating income. Operating income fell 26.7 percent to 680.9 million pesos, as other expense, net, rose to 969.5 million pesos from 43.7 million pesos. The increase included a non-cash impairment of technical equipment in Enterprise operations, higher legal and financial advisory expenses, and the absence of a prior-year insurance-claim recovery.

The return to a net profit was also supported by lower financing costs and taxes. Net finance expense declined by 407.0 million pesos to 268.4 million pesos, while income taxes fell by 2,885.1 million pesos to 123.0 million pesos. Those items helped offset weaker income before taxes and the higher other expense.

AT&T Deal Sets Next Milestone

Televisa's broader strategic agenda includes the planned acquisition of AT&T's wireless business in Mexico through a consortium owned equally with Fintech Holdings. The transaction has a purchase price of 2 billion US dollars, subject to adjustments, and Televisa expects to contribute an estimated 400 million US dollars for a 50 percent interest. Closing is expected in the first quarter of 2027, subject to customary conditions including regulatory approvals.

Grupo Televisa stock traded at 1.87 euros on Lang & Schwarz at 13:13 CET on Monday, November 2, 2026. Investors can follow the real-time quote of Grupo Televisa stock for the latest market indication.

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More news and analyses on Grupo Televisa stock cover the company's results, operating trends and AT&T Mexico transaction.