Univision's Third-Quarter Earnings at Low End of Estimates

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Univision Communications


posted third-quarter earnings of $6.9 million, or 3 cents a share, at the low end of analyst expectations. In the year-ago period, the company earned $25.5 million, or 12 cents a share. According to Thomson Financial/First Call, Wall Street analysts were expecting earnings between 3 cents and 8 cents a share, with a consensus of 6 cents.

Third-quarter revenue for the No. 1 Spanish-language U.S. broadcaster rose 5% to $221.7 million, compared to $212 million a year ago.

Univision also cut its revenue forecast for the full fiscal year to a range of $854 million to $859 million. The company cited negative impacts from the Sept. 11 terrorist attacks, as well as the weakening advertising market, for the lower-than-expected earnings and reduced revenue expectations.