Inquirer
MANILA, Philippines – GMA Network Inc. saw its first-quarter profit plunge 87 percent as the absence of election-related advertising affected revenues following last year’s campaign-driven surge. In its quarterly report, the broadcast giant said net income fell to P102.18 million in the first three months from P800.84 million a year earlier. It added that revenues also dropped 28 percent to P3.36 billion from P4.68 billion. “The overall topline drag was mainly brought about by the absence of a significant amount of election-related placements,” GMA said. READ: GMA Network profit up 6%, boosted by election ads Advertising revenues, which account for nearly […]... Keep on reading: Sans election ads, GMA profit fell 87% in Q1
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