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The company posted a net profit of 3.14 billion pesos ($156 million) compared with 2.2 billion pesos in the same period in 2021.
The company’s revenue slightly increased 0.3% to 18.53 billion pesos from the year-earlier period.
Stake in net profit from associations and joint ventures increased to 4.2 billion pesos in the second quarter from 888.4 million pesos a year earlier, the company said in a filing with the Mexican stock exchange.
“This… primarily reflected an increase in our stake in TelevisaUnivision Inc from approximately 36% in the second quarter of 2021 to approximately 45% on a full conversion basis in the second quarter of 2022,” the company said.
TelevisaUnivision, a firm that combines content with U.S. broadcaster Univision, earlier in July launched the subscription-based version of its streaming platform, ViX+, which will compete with established rivals like Netflix Inc (NASDAQ:NFLX) and Amazon.com Inc (NASDAQ:AMZN)’s Prime Video.
($1 = 20.1335 Mexican pesos at end-June)
