Grupo Televisa, S.A.B. (GRPFF) released its Q4 2025 earnings on February 27, 2026, reporting consolidated revenue of 14.5 billion Mexican pesos, a 4.5 % year‑over‑year decline, and a net loss of $419.7 million, or 78 cents per share. Operating segment income rose 6.1 % YoY to 5.9 billion pesos, and the operating segment income margin expanded to 40.9 % from 39.1 % in the prior year.
Revenue fell largely because Sky’s revenue dropped 16.8 % YoY to 1.3 billion USD, driven by a loss of 304,000 RGUs and a broader decline in satellite services. Other segments, such as Residential & Enterprise Services, showed modest growth or stability, partially offsetting the decline in legacy pay‑TV revenue.
Margin expansion was driven by a 8 % YoY reduction in operating expenses and realized synergies from the integration of Izzi and Sky. The company’s cost‑control program and operational efficiencies lifted the operating segment income margin to 40.9 %, even as top‑line revenue slipped.
Despite the margin improvement, the company posted a net loss because of higher interest expense and other non‑operating charges that outweighed the operating gains. The loss of 78 cents per share was below analysts’ breakeven expectations, leading to a miss in earnings per share.
Management reiterated its guidance for the remainder of 2025 and 2026, noting that the company will suspend its regular dividend in 2026 to fund telecom opportunities in Mexico. The guidance remains unchanged, but the dividend suspension signals a shift toward capital allocation for growth initiatives.
The market reacted negatively, with the stock falling 9.59 % in early trading. Investors focused on the revenue decline in Sky, the net loss, and the missed EPS, all of which underscored concerns about the company’s ability to reverse top‑line weakness while maintaining profitability.
Management emphasized that cost control and the integration of Izzi and Sky will continue to support margin expansion, but cautioned that the Sky business remains a headwind due to ongoing subscriber losses and the broader shift toward streaming. The company’s focus on telecom investments and the suspension of the dividend reflect a strategic pivot toward higher‑growth opportunities.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.