GMA Network has announced the schedule of its third quarter financial disclosure via letter to the Securities and Exchange Commission and the Philippine Stocks Exchange. The press release is set on Friday, November 11, 2011, at the Executive Lounge 17th floor GMA Network Center. Registration will start at 12:00 noon and presentation will commence after lunch.
GMA CEO Atty. Gozon earlier reported that revenues in the 3rd quarter slowdown due to weak earnings from some prime time programs and set backs from ad spending of major advertisers. Last year GMA posted a 26% drop in profits year-on-year, and 30% decrease quarter-on-quarter, caused mainly by protests from Procter and Gamble and weak television ratings.
GMA reported H1 (2011) net earnings of P1.05 billion, 38% lower from P1.69 billion earned the previous year.
Link: GMA NETWORK