ABS-CBN Corporation, together with its subsidiaries, is engaged in television and radio broadcasting business in the Philippines, the United States, the Middle East, Europe, Australia, Canada, and Japan. The company operates through three segments: TV and Studio Entertainment, Pay TV Networks, and New Businesses. It offers cable and satellite programming, money remittance, trading, telecommunication, music and magazine publishing, post production, content development and programming, educational/training, interactive media, support and call center, restaurant and food, broadband Internet, merchandising, and mobile services, as well as operates theme parks. The company is also involved in the...
ABS-CBN Broadcasting Center
Sgt. Esguerra Avenue corner
Mother Ignacia Street
Quezon City, 1100
Founded in 1946
ABS-CBN Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year 2014
Aug 14 14
ABS-CBN Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of PHP 8,187,553,000 against PHP 9,252,348,000 a year ago. Income before income tax was PHP 443,972,000 against PHP 1,098,507,000 for the same period last year. Net income attributable to equity holders was PHP 535,290,000 or PHP 0.671 per basic and diluted per share compared to PHP 836,162,000 or PHP 1.088 per basic and diluted share for the corresponding period of last year. Net cash provided by operating activities was PHP 1,559,536,000 against PHP 716,223,000 for the same period a year ago. Additions to property and equipment and program rights and other intangible assets were PHP 428,003,000 and PHP 365,287,000 against PHP 1,098,553,000 and PHP 1,136,561,000 of prior year period. EBITDA was PHP 1,666 million against PHP 2,230 million a year ago.
For the first half, the company reported revenues of PHP 16,378,226 against PHP 17,177,704,000 a year ago. Income before income tax was PHP 1,085,839,000 against PHP 1,781,351,000 for the same period last year. Net income attributable to equity holders was PHP 1,161,983,000 or PHP 1.457 per basic and diluted share compared to net income attributable to equity holders of PHP 1,343,876,000 or PHP 1.772 per basic and diluted share for the corresponding period of last year. Net cash provided by operating activities was PHP 2,262,605,000 against PHP 4,143,307,000 for the same period a year ago. Additions to property and equipment were PHP 1,914,428,000 and PHP 1,175,438,000 a year ago. Additions to program rights and other intangible assets were PHP 667,333,000 and PHP 830,662,000 a year ago. EBITDA was PHP 3,430 million against PHP 4,130 million a year ago. The company announced that its second-quarter net profit fell dramatically in the absence of the election-related advertising spending, which had provided a major boost to its results in the year-earlier period.
For the full-year 2014, the company targeted profit to be in the range of PHP 1.8 billion to PHP 2 billion.