TV US (Neutral, TP: $5.00, +8%) Televisa Q2s - Tough cable, TVUNI top line accelerating (though still negative FCF)
Televisa reported Q2s after close last night, which followed TelevisaUnivision’s report at the end of last week. For the consolidated businesses of cable and SKY we had flagged anticipated weak numbers (see HERE) which largely played out. Cable RGU adds were very weak this quarter under pressure from Megacable’s expansion efforts, as well as following the lapsing of promotions end-2022 and more recent price increases
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New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
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- Pan European Telecom Services and Cable
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