GMA Network Q1 profit up by 6% due to strong revenues

MANILA, Philippines- Broadcast company GMA Network Inc. on Thursday disclosed that its net income grew 6 percent to P454 million in the first quarter of the year, powered by higher revenues.

In a filing with corporate regulators, GMA Network said its airtime revenues rose 1 percent to P2.4 billion in the first quarter of the year, while revenues from international and other sources grew by 6 percent.

The network's gross revenues, which consist of gross airtime revenue, production and others, went up by 2 percent or P39 million to P2.56 billion.

"Despite the absence of poll ads and early onset of Holy week this year as compared to last year, airtime revenue inched up by 1 percent to P2.4 billion," GMA Network said.

International operations ended the first quarter with P118 million in revenues, up 19 percent compared to P99 million in the same period last year. - GMANews.TV