Mexico's Televisa posts 78.6% drop in net profit on lower government spending

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Mexico's Televisa posts 78.6% drop in net profit on lower government spending
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Mexican broadcaster Televisa's net profit plunged by 78.6% in the second qu...

FILE PHOTO: The logo of broadcaster Televisa is seen outside its headquarters in Mexico City, Mexico December 14, 2016. REUTERS/Henry Romero/File Photo

Televisa , the world’s largest producer of Spanish-language TV content, reported a 919.1 million peso net profit for the quarter, down from 4.3 billion pesos during the same period last year. Net sales fell by 9% to 24.3 billion pesos.

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