EarningsQ2 2026 Earnings Report
MX:TLEVISAL Q2 2026 EPS Results
Actual EPS-$0.23
Consensus EPS―
Beat/Miss―
One Year Ago EPS$0.22
MX:TLEVISAL 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:TLEVISAL Upcoming Earnings
Grupo Televisa, S.A.B. Class L'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 highlights a clear and material turnaround in telecom operations: strong cost efficiencies, margin expansion, disciplined CapEx, robust free cash flow and accelerated FTTH rollout. These operational strengths are partially offset by near‑term top‑line pressures in certain businesses — notably Sky's subscriber declines, U.S. advertising weakness and a modest adjusted EBITDA decline at TelevisaUnivision — and elevated leverage at TelevisaUnivision. Overall, the company appears on a healthier financial and operational footing with identifiable paths to address media‑segment softness.Company Guidance
Stabilized and Improving Broadband Base
Internet subscriber base has grown sequentially for 5 consecutive quarters; monthly churn below 2% for 5 consecutive quarters and at the lowest level in the last 10 quarters.
Residential and Enterprise Revenue Recovery
Residential and enterprise revenue for H1 2026 was MXN 23.7 billion, up 2.6% year‑on‑year; residential revenue in Q2 was MXN 10.7 billion, up 1.8% YoY and +1.1% sequentially (best quarter in ~2.5 years).
Material OpEx and Headcount Reductions
Annual OpEx reduced to MXN 34.5 billion, 18.4% below MXN 42.2 billion three years ago despite 14.7% cumulative inflation; headcount reduced from ~34,000 to ~25,000 (~26% decline) and labor costs cut ~8% despite >50% cumulative minimum wage increases.
Margin Expansion and Profitability Gains
Consolidated operating segment income margin expanded ~260 basis points to 40.7% from 38.1% three years ago; Cable & Sky operating segment income in Q2 was MXN 6.0 billion (+5% YoY) with an operating segment income margin of 41.8% (+310 bps YoY), the best quarter in 3 years for profitability.
Aggressive FTTH Upgrade Progress
Network of 20 million homes; passed ~12 million homes with FTTH (≈60% of footprint) after upgrading ~1.5 million homes in Q2; on track to complete full FTTH network by Q2 2027 with ~8 million additional homes planned over next 12 months.
Disciplined CapEx and Strong Free Cash Flow
Average annual CapEx ~MXN 11.3 billion (36.5% lower than pre‑turnaround), CapEx/sales 18.5% vs 25.8% previously; cumulative free cash flow of MXN 16.4 billion over 3 years (~$300m/year), or MXN 20.6 billion excluding network upgrade (~$375m/year).
Corporate Cost Savings
Grupo Televisa corporate expenses declined ~65% to ~MXN 400 million annually (from ~MXN 1.2 billion) via integration with telecom functions (back office, IT, procurement).
TelevisaUnivision — Strong Mexico & ViX Performance
TelevisaUnivision revenue grew 10% YoY to $1.3 billion; Mexico revenue surged 53% YoY to $605 million driven by World Cup; consolidated subscription & licensing revenue rose 40% YoY (including ~$90 million in World Cup sublicensing); ViX delivered record subscriber growth and highest quarterly subscriber additions.
Improved Corporate Liquidity & Deleveraging (Televisa)
Grupo Televisa consolidated leverage declined to ~1.6x EBITDA from 2.4x at end‑Q2 2023; TelevisaUnivision cash of $766 million and ~ $770 million available credit capacity; TelevisaUnivision net debt/EBITDA modestly improved to 5.5x from 5.7x.
MX:TLEVISAL 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