April 27, 2017 / 1:50 PM / a year ago

Shares in Mexican broadcaster Televisa down more than 4 pct

MEXICO CITY, April 27 (Reuters) - Shares in Mexican broadcaster Televisa dropped more than 4 percent on Thursday after it posted its first-quarter results that showed weak sales despite a 125-percent year-on-year rise in net profit.

Grupo Financiero Banorte changed its outlook for the stock to hold from buy on Thursday. The company said on a conference call that the first half of 2017 looked challenging but the second half of the year would likely be more positive. (Reporting by Miguel Angel Gutierrez and Gabriel Stargardter)

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