GMA Network Inc. said Monday said net income rose 5 percent in the first quarter from a year ago, boosted by political advocacies and advertisements.
The broadcast company said net income amounted to P2.12 billion from January to March, up from P2.01 billion it booked in the same period last year. Consolidated gross revenues climbed 7 percent to P5.86 billion from P5.45 billion.
“Political advocacies and advertisements contributed more than a billion pesos during the quarter,” GMA Network said.
Sale of services overtook last year by 8 percent to P241 million, while sale of goods dipped by P54 million. The company said that as operations continued to progress towards the new normal state, consolidated operating expenses reached P3.07 billion in the first quarter, up by 9 percent from the same period last year.