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ABS-CBN posted higher revenue than GMA Network.
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GMA Network reported higher Net Income compare to ABS-CBN.
ABS-CBN and GMA Network both posted wins in earnings for the 1st half of 2017.
In a report by Entrepreneur.com.ph, ABS-CBN and GMA network both have respective wins in the earnings category.
ABS-CBN for its part has recorded higher revenue that rival network GMA. The Kapamilya network posted a revenue of 19.3billion pesos for the 1st half of 2017 (Jan – Jun).
Kapamilya’s gross income is 11.6billion higher than GMA Network’s 7.7billion.
However, ABS-CBN still recorded a decrease in revenue compare to same period last year.
ABS-CBN’s revenue in the 1st half of 2016 is 8% higher at 21billion while GMA Netwok also reported a decrease of 12% to last year’s 8.8billion.
Meanwhile, in terms of Net Income, GMA Network posted higher Net Income than ABS-CBN.
GMA Network has generated a Net Income of 1.6billion for the 1st half of 2017, 0.3billion higher than ABS-CBN’s 1.3billion.
But just like in revenue, the rival network’s Net Income have also declined.
GMA Network’s 1.6billion in the 1st half of 2017 is 38% lower than last year’s 2.4billion. Same with ABS-CBN which drop by 41% at 1.3billion.
But despite lower earnings, GMA Network remains “optimistic on hitting its year-end target,” it said in a statement. The same sentiment was echoed by ABS-CBN. The broadcasting station even increased its investments by 17 percent in the first half of the year compared to the same period last year. In contrast, GMA decreased its investments by 17 percent.
What’s the difference between revenue and income?
From NBCNews: “Revenue (sometimes called sales) refers to all the money a company takes in from doing what it does — whether making goods or providing services. Other sources of funds — including investment gains — are usually labeled as such but also included as revenue. (Occasionally, you’ll see this number referred to as “gross income.”)
“Net income” is the phrase commonly used to refer to a company’s “profit.” It represents how much money the company has left over, if any, after it’s paid the costs of doing business — payroll, raw materials, taxes, interest on loans, etc..”
