GMA Network 2Q revenues up 1%

Improved financial performance in the second quarter allowed broadcast leader GMA Network, Inc. (GMA) to report net income of P1.232 billion in the first half of the year. Consolidated revenues during the period amounted to P7.250 billion, a 6 percent decline versus last year.

GMA’s second-quarter revenues reached P3.979 billion, 1 percent higher compared to the same period last year; while net income climbed by 13 percent to P805.7 million.

Despite an industry-wide reduction in advertising placements, GMA’s consolidated airtime revenues in the first six months still stood at P6.394 billion, which translates to a single-digit slide of 7 percent versus last year.