Televisa Posts Weak End to 2018; Lowering Fair Value Estimate to $17 to Account for Weaker Growth
Grupo Televisa reported a weak end to a challenging 2018 as both revenue and EBITDA missed against consensus projections. Despite the issues, the company has made some strides in turning its businesses around. Televisa continues to gain traction in broadband, within both fixed line and fixed wireless. While ad revenue fell year over year in the quarter, breaking a three-quarter growth streak, the decline was due to the government's decision to decrease advertising spending across the board. We a...
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