Thursday, May 23, 2024

Data, broadband now account 68% of PLDT’s service revenues

The core income of telco giant PLDT has increased by 6 percent to P7.2 billion in the first quarter of 2019 from only P6.8 billion posted during the same period last year, driven by increasing revenues from its data and broadband services.

PLDT chairman and CEO Manuel V. Pangilinan (middle) discusses the company’s financial results for the first quarter of 2019 during a press briefing held at the company’s offices at the Ramon Cojuangco building in Makati City on Thursday, May 9. PNA photo by Aerol John B. Patena

The top management of PLDT disclosed in a press briefing on Thursday, May 9, that the company’s consolidated service revenues for the first three months of the year has increased by 7 percent year on year to P38 billion due to the strong performance of its Wireless Individual business.

The service revenues of PLDT’s Wireless Individual, Home and Enterprise stood at P35.8 billion, which was higher by 12 percent compared to the same period last year.

“Two things stand out in our results for the first quarter of 2019. First, close to 70 percent of our service revenues are now from data and broadband, underscoring the fact that our secular shift to data and digital services is moving at a faster clip, reflecting our ability to attract more data customers and migrate our legacy subscribers to data,” PLDT chairman and CEO Manuel V. Pangilinan said.

“Second, our Individual Wireless business, which started to take off in the last quarter of 2018, gained more momentum in the first quarter this year, surpassing even our expectations,” he added.

Data and broadband service revenues grew by 21 percent to P24.4 billion, now accounting for 68 percent of total service revenues.

Reported net income for the period stood at P6.7 billion, declining by 3 percent year on year mainly due to lower gain in the valuation of PLDT’s investment in Rocket Internet for the first quarter of 2019 compared with the same period last year.

PLDT said it will remain committed on its capital expenditure target of P78.4 billion this year for the expansion of its 4G and LTE services, rollout of 5G technology, and installation of its last-mile and customer-premises equipment such as modems and optical network units for the delivery of broadband Internet to its subscribers, Pangilinan said. — Aerol John Pateña (PNA)


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