PLDT posts PHP 8.92 billion in Q1 earnings

Telco titan PLDT Inc. recorded a net income of PHP 8.92 billion in the first three months following the steady performances of its wireless, enterprise, and data segments.

File photo: PLDT logo

Data, broadband fuel growth

The figure, however, was slightly weaker than the PHP 9.06 billion booked in the same period last year.

Core income inched up by 2 percent to PHP 9.1 billion, boosted by enterprise revenues as well as gains from digital bank Maya and property sales.

During the period, the group was able to secure around PHP 300 million to PHP 400 million from asset sales, including properties in Cebu and Baguio. PLDT is still looking to unload over 200 assets.

Gross service revenues, meanwhile, went up by 3 percent to PHP 54.9 billion, while net service revenues remained flat at PHP 48.9 billion.

Data and broadband revenues jumped to PHP 41.9 billion, accounting for the bulk, or 86 percent, of total service revenues.

Its wireless consumer revenues stood at PHP 21 billion, driven by mobile data demand and fixed wireless access services. PLDT’s home business also pitched in PHP 15 billion to the group’s topline.

We are moving in the right direction. The fundamentals are sound and the momentum is there, but our team is capable of more. We expect more of ourselves, and we intend to deliver, said Manuel Pangilinan, chair and CEO of PLDT.

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