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PLDT core income up in first quarter amid digital pivot

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ABS-CBN News

MANILA - PLDT on Thursday disclosed that its core income grew 13 percent to P6 billion in the first quarter of the year on service revenues of P36.7 billion as its home and enterprise broadband services continued to expand. Revenues from PLDT Home grew 14 percent while enterprise revenues expanded 7 percent, PLDT said, adding that these now make up 49 percent of total service revenues. “After several quarters of challenged revenues, this upswing is definitely encouraging,&quot; said PLDT Chairman and CEO Manuel V. Pangilinan. Revenues from data, broadband and digital platforms grew by 13 percent to P18.3 billion at the end of March 2018, PLDT said. The contribution from data and digital accounted for 50 percent of total service revenues in the first quarter of 2018, up from 45 percent a year ago, the company noted. “And we shall accelerate this further as our fixed and mobile networks are progressively transformed into powerful platforms for delivering digital services and solutions,&quot; said Ernesto R. Alberto, PLDT and Smart executive vice president and chief revenue officer.PLDT said it is confident of meeting its targets for the year following the gains it made in the first quarter.“Given these developments, we maintain our guidance that full-year recurring core income for 2018 excluding Voyager will reach P23-24 billion and that our capex will increase to P58 billion this year,” Pangilinan said.

MANILA - PLDT on Thursday disclosed that its core income grew 13 percent to P6 billion in the first quarter of the year on service revenues of P36.7 billion as its home and enterprise broadband services continued to expand.

MANILA - PLDT on Thursday disclosed that its core income grew 13 percent to P6 billion in the first quarter of the year on service revenues of P36.7 billion as its home and enterprise broadband services continued to expand.