ABS-CBN Corporation Reported P7.8 Billion in Consolidated Revenues in H1-2024, P1 Billion Lower

​For the six months ended June 30, 2024, ABS-CBN Corporation's total consolidated revenues were P7.8 billion, P1 billion lower or 11% compared to the previous year’s P8.8 billion.

Source: PSE Edge

Consolidated operating costs and expenses amounted to P10.2 billion, a reduction of P399 million, or a 4% decrease year-on-year. Cost reduction mainly came from facilities-related expenses in the cable and broadband business.
 
Consolidated Net loss amounted to (P2.1) billion, an improvement of P102 million or 5% versus the previous year’s (P2.2) billion.
 
Consolidated EBITDA amounted to P25 million, lower by P79 million or 76% compared to 2023.

As of June 30, 2024, total consolidated assets stood at P50.9 billion, 4% lower than total assets of P53.1 billion as of December 31, 2023.

Shareholders' equity is at P7 billion, P2.2 billion, or 24% lower than December 31, 2023.

The Company's net debt-to-equity ratios were 2.19x and 1.71x as of June 30, 2024, and December 31, 2023, respectively.