ABS-CBN dramatically widened its net loss to P13.5 billion in 2020 from P2.6 billion losses in the preceding year, the broadcast giant told the stock exchange on Tuesday. “I only expect ABS to revert into profitability region once they get their hands on a new franchise,” Santos said in a Viber message. In turn, advertising revenues, which typically contribute the biggest to total earnings, cornered a smaller 33% share in the revenue mix last year. This allowed the company to rake in P1.01 billion revenues last year. “I think more time is needed before we can see this segment contribute to the firm as much as advertising revenues did back then,” she said.

Source: Philippine Star June 08, 2021 07:50 UTC