GMA-7 posts P388 Million net income for the 1st quarter of 2012

For the future, Gozon said, "We will maintain our lead, increase our international presence and exploit additional business opportunities."

In the first 3 months of the 2012, the net income of GMA-7 was down over 27% to P388 million from P534 million in the same period in 2011.

The network cited lower revenues from advertising, subscription and other sources. These main revenue streams decreased by 4% quarter-on-quarter.

Industry leader and rival ABS-CBN Corp. reported a paltry 1% net income increase in the first quarter.

Officials of GMA-7 highlighted, however, that the 2nd largest media group was more prudent in spending. For example, they noted that GMA-7 spent only 42-cents in production costs for every P1 of airtime revenue, while ABS-CBN spent 56-cents

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