Wednesday, August 13, 2014

ABS-CBN reports P16.4 billion 1st half revenues

ABS-CBN Corporation, the country’s leading media and entertainment company, reported PHP16.4 billion consolidated revenues for the first half of 2014, bringing its net income to PHP995 million, around 44% higher compared to the same period last year after removing the effect of election-related ad spending. The company reported steady second quarter revenues of PHP8.2 billion – almost identical to the revenues generated during the first quarter of this year.


“I am pleased with our overall performance for the first half of the year, and I am confident that we will be able to achieve our full-year financial targets,” said Aldrin Cerrado, the company’s Chief Financial Officer. “Channel 2 continues to dominate strongly in terms of national audience shares and ratings, Star Cinema’s performance at the box office was excellent, and Skycable has grown both its cable and broadband businesses,” added Cerrado. “Our Global business has been solid, and we have been able to reach our fellow Kapamilya overseas through events such as ‘ASAP Dubai’ and ‘OK Go’ in Canada and various other countries.”

Tuesday, August 12, 2014