GMA Network Inc. on Tuesday said consolidated revenues rose 14 percent to P3.587 billion in the second quarter from P3.138 billion in the first quarter, helped by advertising and better nationwide ratings. However, quarter-on-quarter, GMA Network’s net income after taxes slipped by 13 percent to P521 million.
Still, the company said consolidated revenues fell 11 percent to P6.726 billion in the first half of the year from P7.564 billion a year earlier in the absence of political advertising that marked the network’s robust financial results in the first half of 2010.
GMA Network chairman and CEO Atty. Felipe Gozon, however, noted that revenues in 2011 were off to a much better start than it did in the beginning of 2008, a year unaffected by the presence of political advertisements.