GMA Network Inc. said Tuesday net income rose 14 percent in 2019 to P2.63 billion from higher political advocacies and traditional advertisements.
The broadcasting network told the stock exchange last year’s profit increased from P2.32 billion in 2018 as consolidated revenues improved 8 percent to P16.49 billion from P15.23 billion.
GMA said advertising revenues reached P15.17 billion last year, up 10 percent from P13.83 billion in 2018. “Most airtime-revenue generating platforms surpassed prior year’s top-line performance with the boost from this year’s political advocacies and advertisements,” the company said.
Advertising revenues from online platforms also contributed to this year’s incremental sales.
Total consolidated operating expenses for 2019 amounted to P12.76 billion, or 6 percent higher than P11.99 billion in 2018.