DIGITAL services provider PLDT Inc. is “on track” to meet its P26-billion telco core income guidance for the year, as its wireless business continues to recover from years of decline coupled with the constant increases in revenues from its enterprise and home verticals.
Manuel V. Pangilinan, the company’s chairman, said his group is optimistic for the rest of 2019, as initial earnings from the first half “are looking good.”
“I think we’ll be better than P26 billion,” he said in a chance interview. “[It] will be fuelled 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.
Telco core income amounted to P7.2 billion, up by 6 percent from the year prior.
Shares of PLDT remained flat at P1,230 apiece on Tuesday.