PLDT on track to meet P26-billion telco core income guidance

telecommunication

Telco giant and Digital services provider PLDT Inc. is “on track” to meet its P26-billion telco core income guidance for the year, as its wireless business remains to recover from years of decline coupled with the constant increases in revenues from its enterprise and home verticals.

Manuel V. Pangilinan, the PLDT’s chairman, stated his group is expectant for the rest of 2019, as preliminary earnings from the first half “are looking good.”

“I think we’ll be better than P26 billion,” he said in an interview. “[It] will be fueled mainly by the significant growth of wireless. Enterprise rises consistently, and it will grow by low double digit. Wireless is surprisingly on the upside.”

PLDT booked a net income of P6.7 billion in the first quarter of 2019, while its consolidated revenues increased by 7 percent to P38 billion, with wireless individual, home and enterprise accounting for 94 percent of the total service revenues.

The telco core income amounted to P7.2 billion, up by 6 percent from the year prior. Shares of PLDT persisted flat at P1,230 apiece on Tuesday.

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