TV ads push ABS-CBN income higher

ABS-CBN Corp., the media holding company of the Lopez family, said profit jumped 20 percent in the first half of 2015 as revenues, led by television advertising, increased.

ABS-CBN said that net income during the period hit P1.2 billion while revenue was up 8.3 percent to P17.74 billion.

The company also reported higher second-quarter revenues of P9.3 billion, up 11 percent.

“Our performance during the first half was well within our expectations,” ABS-CBN chief financial officer Aldrin M. Cerrado said.
“We disclosed a guidance of P2.4 billion for 2015 and we are about half way there,” he said.