GMA Network, Inc. Announces Consolidated Earnings Results for the First Quarter of 2016; Provides Earnings Guidance for the Year 2016
May 05, 2016 at 11:34 am
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GMA Network, Inc. announced consolidated earnings results for the first quarter of 2016. For the quarter, net income surged 148% to PHP 1.013 billion for the first quarter of 2016. Consolidated revenues from all platforms climbed 30% to PHP 3.903 billion driven by higher airtime sales, which grew 32% to PHP 3.571 billion by the end of the quarter. EBITDA stood at PHP 1.838 billion, up 86% from the same period last year.
For 2016, the Network's capital expenditures (CAPEX) were pegged at PHP 550 million including multi-million investments for mounting the most comprehensive coverage of the upcoming presidential elections. The amount, however, excludes budget for the Network's digital terrestrial television (DTT) rollout. Profit guidance for 2016 is expected to be significantly higher than 2015, hoping for PHP 3 billion.
GMA Network, Inc. is a Philippines-based media broadcasting company primarily involved in the business of radio and television broadcasting. The Company is also involved in film production and other information and entertainment-related businesses. Its segments include Television and Radio, International Subscription and Other businesses. The Television and Radio segment is engaged in television and radio broadcasting activities. The International Subscription segment is engaged in subscription arrangements with international cable companies. Its Other businesses segment includes movie production, consumer products and other services. Its subsidiaries include Alta Productions Group, Inc. (Alta), which operates pre and post-production services; GMA Network Films, Inc, which is engaged in film production; GMA New Media, Inc., which is engaged in converging technology, and RGMA Marketing and Productions, Inc., which is engaged in music recording, publishing and video distribution.
GMA NETWORK, INC. 
