August 13, 2013

ABS-CBN net income surges 44% to P1.34B

ABS-CBN Corp.’s net income amounted to P1.339 B from January to June this year, 44% higher than the P927 M booked in the same period last year. Consolidated revenues of ABS-CBN jumped 23% to P17.06 B.

The company booked P1.2  B worth of election-related advertising in the first half of the year, increasing the share of airtime revenues to 59% from 56% and reducing the share of consumer sales to 41% from 44%.
Consolidated advertising revenues went up 29% to P10.06 B in the first half from P7.805 B in the same period last year while consumer sales increased 16% to P7 B from P6.033 B.

SkyCable Corp. continued to be a major driver of growth as revenues jumped 30% to P3.409 B from P2.624 B. - WealthSec