Hemisphere Media Group, Inc. (HMTV) has reported 1.67 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $2.74 million in the quarter, compared with $2.70 million for the same period last year.

Revenue during the quarter grew 7.06 percent to $33.16 million from $30.97 million in the previous year period. Gross margin for the quarter expanded 198 basis points over the previous year period to 69.10 percent. Total expenses were 78.72 percent of quarterly revenues, up from 76.87 percent for the same period last year. That has resulted in a contraction of 185 basis points in operating margin to 21.28 percent.

Operating income for the quarter was $7.06 million, compared with $7.16 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $14.52 million compared with $13.32 million in the prior year period. At the same time, adjusted EBITDA margin improved 78 basis points in the quarter to 43.79 percent from 43.01 percent in the last year period.

"We are off to a strong start in 2017. We delivered solid advertising revenue and subscriber and retransmission fee growth, saw increases in subscribers in both the U.S. and Latin America and continued to expand distribution of our channels through additional launches with MVPDs," said Alan Sokol, president and chief executive officer of Hemisphere.