GMA Network says 1Q net income up 148%

ABS-CBN News

Posted at May 05 2016 03:52 PM | Updated as of May 05 2016 06:32 PM

GMA Network Inc. said Thursday its net income in the first quarter grew 148 percent on higher revenues.

The country's second largest broadcaster said net income in the January to March period grew to P1 billion from P408 million during the same period last year.

Total revenues grew 30 percent to P3 billion, boosted by a 32-percent jump in its television and radio divisions, the company told the stock exchange.

Total operating expenses were down 2 percent while total production costs were down 1 percent, it said.

GMA Network shares closed 1.04 percent higher to 6.78 pesos.