Grupo Televisa Q2 Profit Rises 21%

Mexico's Grupo Televisa

reported a 21% gain in its second-quarter net profit. Grupo Televisa's quarterly profit surged to 2.21 billion pesos ($170 million), versus a year-ago profit of 1.83 billion pesos. Its revenue gained 7% to 19.34 billion pesos. Its income from its cable, phone and Internet businesses jumped 15%, while satellite TV sales rose 8.3%. Televisa's sales of its TV channels slipped around 24% to $672 million pesos. Grupo Televisa shares dropped 0.53% to close at $35.51 yesterday.