MANILA, MAY 17, 2013 – GMA7 reports that consolidated revenues for the first quarter posted a 24 percent increase to P3.241 billion, while net income hiked up 55 percent to P603 million compared to last year.
According to the Kapuso Network, political advocacies and advertisements provided incremental revenues amounting to 12 percent of the increase, but recurring advertisements still contributed the greater balance or 14 percent of the total revenue hike.
“We are more than pleased with the performance of the company for the first quarter,” said GMA Network chairman and CEO Atty Felipe Gozon. “Such improvements validate our forecast that 2013 will be a particularly strong year for GMA. Our sales continue to grow at a steady pace and we look forward to the future with optimism."
