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World Cup Helps Lift Univision's Profit

July 21, 1998|Bloomberg News

Univision Communications Inc., the largest U.S. Spanish-language broadcaster, said second-quarter earnings rose 48% as World Cup soccer games boosted its audience and advertising revenue. Profit before a charge rose to $13.3 million, or 12 cents a diluted share, from $9 million, or 8 cents, a year earlier. That beat the 9-cent average estimate of analysts. After a $16.5-million charge for employee bonuses, Univision had a loss of $3.2 million, or 4 cents. Los Angeles-based Univision's audience of about 1.6 million adult viewers makes it one of the largest TV broadcasters in the U.S. It drew more viewers by broadcasting more hours of the recent World Cup than did English-language channels. Univision owns 21 TV stations as well as Univision Network, the No. 1 Spanish-language channel in the U.S., and Galavision, the No. 1 Spanish-language cable channel. Revenue for the quarter rose to $173.5 million from $122.3 million. Univision shares rose 6 cents to close at $39.13 on the New York Stock Exchange.

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