Tuesday 11 December 2018
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inquirer - 26 days ago

ABS-CBN 9-mo net down 35%

Media giant ABS-CBN Corp. saw earnings drop in the nine months through September this year as revenue was relatively flat while costs increased. From January to September 2018, ABS-CBN posted a net income of P1.48 billion, down almost 35 percent. Total revenue slid by 0.1 percent to P29.5 billion. The company s main television advertising business, which accounted for about half of total revenue, declined 2.8 percent to P14.88 billion. The rest came from consumer sales, which went up by 2.9 percent to P14.6 billion. ABS-CBN said there were fewer advertising placements. On the other hand, consumer sales were propped up by the sale of its TVPlus box...

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