Political Ads Quadruple GMA Income to P800M

Broadcast giant GMA Network Inc. recovered to growth mode in the first quarter of the year as it booked higher profit from the deluge of political ads for the midterm elections.

- By ELIJAH FELICE ROSALES

Based on its financial report, GMA's net income went up by four-fold to P800.84 million from January to March, from P203.35 million a year ago.

The network raised its revenue by 28 percent to P4.68 billion, neutralizing the five-percent hike in expenses to P3.65 billion.

GMA said advertising revenues grew by 29 percent to P4.34 billion to remain as the company's largest source of income. GMA's consumer sales also spiked by 18 percent to P345.85 million.