GMA Network Inc. is confident revenues and profit will continue to increase this year, as it sees impact of the pandemic easing up.
Felipe Gozon, GMA chairman and chief executive officer, expects net income to increase by 15 percent this year.
GMA reported a P5.98 billion net income in 2020, up by 129 percent from P 2.62-billion net income reported in 2019, attributed to increased revenue from advertising business.
GMA reported that its net income went up 246 percent to P2.02 billion in the first quarter this year from P583 million in the same period last year attributed to reduction in corporate income taxes from 30 percent to 25 percent and higher advertising revenues advertising sales. Revenues grew 55 percent to P5.5 billion from P3.5 billion last year attributed to a 57- percent growth in advertising revenues.
