Entertainment
Televisa Shares Rise on Improvements to Its Cable Operations
Diners watch sports on the Tudn channel on a television at a restaurant in Mexico City.
Photographer: Mayolo Lopez Gutierrez/BloombergGrupo Televisa SAB shares rose after the company reported higher profits than analysts expected as improvements to its cable operations helped reduce churn.
The Mexican media and entertainment company said Tuesday that its net income in the quarter was 474.5 million pesos ($25.5 million). Revenue declined 6.3% year over year to 14.7 billion pesos in the three-month period ended June 30, falling short of expectations, partly due to declines in its multiple cable television systems.