Televisa posts Q3 profit and outlines $2 bn AT&T Mexico acquisition
Grupo Televisa reported a return to profit in the third quarter of 2026 and disclosed progress on a $2 billion deal to acquire AT&T’s Mexican wireless business, in which it will contribute roughly $400 million in cash. The company said operating margin rose to 42.6% while segment revenue fell 3.8% year‑on‑year to MXN 14.1 billion. Management warned that net‑debt‑to‑EBITDA will increase to about 1.9× after the acquisition.
Why it matters
The higher debt ratio signals greater leverage for investors, as noted in the earnings call. The $400 million cash outlay for the AT&T deal creates a sizable capital commitment that will affect cash flow and balance‑sheet risk. The margin expansion shows cost‑saving progress, but the revenue decline highlights ongoing sales pressure.
Key facts
- 1Operating margin expanded to 42.6% in Q3, up 380 basis points year‑on‑year. finance.yahoo.com
- 2Segment revenue fell 3.8% year‑on‑year to MXN 14.1 billion. finance.yahoo.com
- 3Operating segment income rose 5.6% year‑on‑year to MXN 6 billion. finance.yahoo.com
- 4Net‑debt‑to‑EBITDA ratio is expected to rise to 1.9× from 1.6× after the AT&T acquisition. finance.yahoo.com
- 5Televisa will contribute an estimated US$400 million in cash to the US$2 billion AT&T Mexico purchase. riotimesonline.com
Open questions
- Material 1 reports Q3 profit of US$51.2 million, while material 7 reports US$47 million profit – same basis, conflicting figures.
- Material 1 gives revenue of US$815.9 million, material 2 reports US$814.98 million, and material 7 reports US$750 million – conflicting revenue numbers on the same basis.
Summary written by AlphAI AI Desk from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.