(Updates throughout)
MEXICO CITY, July 25 (Reuters) - Grupo Televisa , Mexico's largest broadcaster, reported on Tuesday a more than 95% slide in net profit from the year-ago quarter as its joint venture with Univision saw earnings slip and satellite TV unit Sky saw increased disconnections.
Profit only reached 133.5 million pesos ($7.8 million) in the second quarter, a sharp drop from the 3.14 billion peso profit seen in the year-ago quarter.
The company's revenue, meanwhile, remained relatively stable at 18.5 billion pesos.
TelevisaUnivision, a firm that combines content with U.S. broadcaster Univision, saw net income drop in the first half of the year, Televisa said in a statement.
The Mexican firm also saw a dilution gain in the year-ago quarter when it converted its preferred shares into common shares, it added, as well as a gain on the reversal of a remaining impairment loss.
The three factors caused the share of income from the joint venture to fall by 4.19 billion pesos, Televisa said.
Televisa also said its satellite TV service Sky saw 191,000 net disconnections of revenue-generating units (RGUs) in the quarter, driven by the loss of 164,100 video RGUs.
Expenses not including regular corporate expenses and depreciation and amortization also more than quadrupled in the quarter, partially due to severance payments after lay-offs at Sky and in Televisa's cable unit, it said.
($1 = 17.1156 pesos at end-June) (Reporting by Kylie Madry, Aida Pelaez-Fernandez and Noe Torres; Editing by Brendan O'Boyle)
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UPDATE 1-Mexico's Televisa posts 95% profit slide on Univision JV drop, satellite TV disconnections - Yahoo Finance
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