PLDT net income inches up 4% to P12.2 billion in H1 2019

MANILA, Philippines – Telecommunications giant PLDT reported slightly higher earnings for the 1st half of 2019, with net income rising by 4% to P12.2 billion.

The Manuel Pangilinan-led company said its total service revenues for January to June this year stood at P76.7 billion, 7% higher than the same period last year.

Revenues were driven mostly by data and broadband services at P49.6 billion. Lower revenues were observed in voice (-7%), text messaging (-14%), and international voice (-29%) during the period.

However, PLDT's core income or earnings from its telecommunication business was flat at P13.2 billion.

Despite this, the company said it is on track to hit its income target of P26.4 billion in 2019.

Its allotted capital expenditure for the year stands at P78.4 billion. The funds will be used to expand mobile coverage and connect more homes to the internet.

As of the 1st half of the year, Smart had 66.8 million subscribers. – Rappler.com

 

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.

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