ABS-CBN profit falls Xinhua Financial News Service
November 14, 2006
ABS-CBN Broadcasting Corp.'s third-quarter net profit declined by eight percent to P178.9 million from P194.5 million a year before, the company said.
ABS-CBN said that despite its lower earnings in the third quarter, its net profit for the first nine months of the year had grown by 70 percent to P694 million from P409 million a year before, reflecting the continuing improvement in its core business.
The company's third-quarter revenue fell to P4.5 billion from P4.92 billion because it earned less from selling air time, services, licenses and goods.
Its third-quarter earnings per share declined to P0.229 from P0.254.
For the first nine months, gross revenue inched up by 2 percent to P12.94 billion from P12.74 million.
Earnings per share for the first nine months rose to P0.890 from P0.524.
