EarningsQ2 2026 Earnings Report
MX:TLEVISAA Q2 2026 EPS Results
Actual EPS-$0.23
Consensus EPS―
Beat/Miss―
One Year Ago EPS$0.22
MX:TLEVISAA Q2 2026 Revenue Results
Actual Revenue$14.29B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth-2.99%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeAfter Close
Conference CallThursday, July 23, 2026
MX:TLEVISAA Upcoming Earnings
Grupo Televisa, S.A.B. Cl A's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized substantial operational turnaround and financial discipline at Grupo Televisa's telecom operations — with meaningful OpEx cuts, margin expansion, FTTH rollout progress, improved cash flow and lower consolidated leverage — while acknowledging near-term subscriber additions softness in broadband and video, Sky revenue declines, and advertising pressures in the U.S. TelevisaUnivision benefited strongly from World Cup-related revenue (notably in Mexico and streaming/ViX) but faced higher sports costs and continued elevated leverage. Overall, the positive operational and financial improvements and strong cash generation outweigh the temporary top-line pressures and cyclical advertising softness.Company Guidance
Stabilized and Growing Internet Subscriber Base
Internet subscriber base stabilized and grew sequentially for 5 consecutive quarters; churn remained below 2% for 5 consecutive quarters and was the lowest in the last 10 quarters.
Residential & Enterprise Revenue Recovery
Residential and enterprise revenue of MXN 23.7 billion in H1 2026 increased 2.6% year‑on‑year; residential net revenue for Q2 was MXN 10.7 billion, up 1.8% YoY and the best quarterly revenue performance in ~2.5 years.
Margin Expansion and Operating Profitability
Operating segment income of MXN 6.0 billion for Cable & Sky increased 5% YoY; operating segment income margin expanded to 41.8%, up ~310 basis points YoY (and ~40 bps sequentially), marking the best profitability quarter in 3 years.
Material OpEx Reductions and Cost Discipline
Annual OpEx reduced to MXN 34.5 billion, 18.4% lower than MXN 42.2 billion three years ago despite cumulative inflation of 14.7%; headcount reduced from ~34,000 to ~25,000; labor costs cut ~8% despite >50% cumulative minimum wage increase; programming costs cut ~20%.
Aggressive FTTH Rollout Progress
Network reached 20 million homes passed; 1.5 million homes upgraded to FTTH in Q2; ~12 million homes passed with FTTH (around 60% of footprint) with target for full FTTH by end of Q2 2027.
Disciplined CapEx and Improved Cash Generation
Average annual CapEx of MXN 11.3 billion was 36.5% lower than prior period average; aggregate CapEx-to-sales ratio improved to 18.5% from 25.8%; organic annual CapEx ~MXN 9.1 billion (nearly 50% lower than before); cumulative free cash flow of MXN 16.4 billion over 3 years (MXN 20.6 billion excluding network upgrade).
Leverage Reduction
Grupo Televisa leverage declined to 1.6x EBITDA from 2.4x at end of Q2 2023, reflecting stronger cash generation and deleveraging.
TelevisaUnivision Revenue Strength (Mexico/Streaming)
TelevisaUnivision revenue grew 10% YoY to $1.3 billion (including FX effect); Mexico revenue surged 53% YoY to $605 million driven by FIFA World Cup; consolidated subscription & licensing revenue increased 40% YoY with ~$90 million in World Cup sublicensing in Latin America; ViX delivered record subscriber growth and its highest quarterly additions.
Segment Cash & Liquidity
TelevisaUnivision ended Q with $766 million in cash and ~ $770 million available capacity under credit facilities; Cable & Sky operating cash flow (EBITDA minus CapEx) was MXN 2.4 billion in Q2 (16.6% of sales).
MX:TLEVISAA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed