GMA Network 9-mth profit drops 25% to P2.3B

BROADCAST firm GMA Network, Inc. said its consolidated net income after tax fell 25 percent in the first nine months of the year to P2.32 billion from the P3.09 billion recorded a year ago as airtime sales dropped due to the absence of political ads this year.

In a statement issued on Friday, GMA said airtime sales from regular advertisers grew 3 percent to P342.6 million, but absolute airtime sales fell 10 percent compared to 2016, which was an election year.