Los Angeles-based Univision Communications Inc. on Thursday reported a sharply lower fourth-quarter profit on charges but still managed to beat analyst estimates.

Revenue for the nation’s largest Spanish-language broadcaster rose 11 percent to $513.5 million for the quarter ended Dec. 31. Net income was $27.4 million (8 cents per share), compared with $67.2 million (19 cents) in same period a year ago.

The lower earnings were attributed to charges for cost cuts, a decline in its stake in broadcast station owner Entravision Communications Corp. and payments to its primary TV show provider, Grupo Televisa S.A. Excluding the charges, Univision would have earned $83.1 million (25 cents per share) in the fourth quarter.

Analysts on average had expected earnings of 23 cents per share on revenue $496.6 million. Shares of Univision were up 35 cents, or 1.5 percent, to $33.99 in after-hours trading, after closing down 1 percent to $33.50.

“Univision achieved record operating results in the fourth quarter and is in an unprecedented position to capitalize on its leading media assets,” Chairman Jerry Perenchio said in a statement.

The company said it expects first-quarter earnings of 14 cents to 16 cents per share and for net revenues to increase by mid-single-digit percentages.

Perenchio, a company co-founder and its largest individual shareholder, announced last month that Univision was considering putting itself on the market.