Broadcast industry leader GMA Network sustained its strong financial performance for the first semester of 2010 even after the revenue windfall from political advertisements that ended in early May. The Company’s bottomline for the covered period grew by 24 percent to P1.689 billion from last year’s P1.361 billion.
Consolidated revenues increased by 19 percent to P7.565 billion from P6.335 billion record made during the same period in 2009. In nominal terms, the increase of P1.230 billion in revenues for the six-month period almost equaled the P1.274 billion improvement recorded during the full year 2009.
All business units made positive revenue contributions for the said period. Parent company Channel 7 booked an 18 percent jump in revenues to P6.414 billion in the first half; Q Channel 11 recorded a 17 percent revenue hike to P251 million; while GMA International increased revenue contributions by 11 percent to P462 million. Radio recorded the highest revenue increase of 111 percent to P337 million.