GMA Network Inc. on Wednesday said it expects a higher net income in 2022 on the back of higher advertising revenues.
Felipe L. Gozon, the network’s chairman, told stockholders the profit guidance for this year is expected to reach P8.2 billion, higher than the net profit of P7.57 billion in 2021.
The company earlier reported total consolidated revenues of P22.45 billion last year, up 16 percent from P19.34 billion in 2020.
Gozon also said the company has allotted P2 billion in capital expenditures (capex) to expand its digital transmission nationwide.
“In 2021, we devoted our attention to fortifying our technology and content. We made substantial investments in commissioning 14 new stations so more Filipino homes can enjoy digital TV viewing, which brings our signal distribution network to 92 stations nationwide,” Gozon said.