PLDT profits up on sustained demand in Philippines

PLDT profits up on sustained demand in Philippines

Philippines' largest fully integrated telecommunications company PLDT continued to enjoy strong revenues on sustained demand for data and broadband.

PLDT’s service revenues for the quarter ended 30 June 2021 climbed 9% to PHP45.0 billion (USD905.6 million), up from PHP41.3 billion in 2Q20.

As for the first half of the year, the company’s service revenues improved by 8.5% to PHP89.9 billion, driven by data and broadband, which rose by 16% year-on-year to PHP68.3 billion.

Further, the Integrated telecommunications company's core income rose 10.0% y-o-y to PHP15. 2 billion which it said keeps it on track to reach its full-year guidance of PHP30 billion.

PLDT chairman Manuel V. Pangilinan said: "the first half results put the company on track to hit its telco core income target of P30 billion for the year, alongside a high single-digit increase in consolidated service revenues."

PLDT has added 2,800 new 4G BTS in the three months under review, lifting the total to 34,700 (with plans to upgrade a total of 4,000 in FY21), on top of deploying 500 3G BTS to take the total to 16,700, and rolling out a total of 4,800 5G BTS – up from just 500 at the start of the year.

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