The media giant lost P1.13 billion from July to September 2026, compared with P1.39 billion a year earlier, while revenues rose 4.6 percent to P3.63 billion, its latest quarterly report showed.
Its nine-month loss still widened 32 percent to P2.96 billion as revenues fell 11 percent to P10.52 billion, partly reflecting the absence of political advertising from the 2025 midterm elections and continued weakness in its cable business.
Fresh capital takes center stage
The results come as ABS-CBN prepares for a P6-billion capital infusion involving the Lopez family and new investors, including I&C Holdings Corp., which is committing P3.5 billion.
The funding is particularly important because ABS-CBN's liabilities reached P36.92 billion as of September, exceeding its P34.91 billion in assets and leaving the company with negative shareholder equity of about P2 billion.
“The company expects to recognize a significant capital infusion within the 4th quarter that should address the negative equity position,” ABS-CBN said in its latest financial report.
The company also faces a P14.5-billion gap between short-term liabilities and assets, while BPI and UnionBank have repeatedly extended repayment deadlines on loans, with the latest maturities falling on Nov. 20 and Nov. 30, respectively, the report showed.
BINI, content sales offer some relief
ABS-CBN's content production and distribution business generated P8.96 billion in nine-month revenues, down 2 percent, although sales rose 6 percent after excluding election advertising recorded last year.
BINI's growing international presence, including its Coachella appearance and world tour, helped support ABS-CBN's push beyond traditional advertising, alongside content licensing, co-productions and overseas entertainment events.
But the content business still posted a wider P2.03-billion loss, while cable and broadband revenues plunged 41 percent to P1.55 billion and losses widened to P923 million as subscribers continued to leave.
Cash improves despite losses
ABS-CBN's cash reserves rose to P2.84 billion from P1.03 billion at the start of 2026, while cash generated from operations reached P2.93 billion, reversing a P1.76-billion outflow a year earlier.
Much of that improvement, however, came from higher amounts owed to suppliers and other creditors rather than profits, while the company paid P753 million in interest during the nine months.
—Edited by Miguel R. Camus
