Data to drive PLDT 1H

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Despite the pandemic, PLDT Inc. is optimistic service revenues and telco core income in first half this year will be better than in the same period last year driven by its wireless and broadband data business.

PLDT has seen an upward trend in services revenues from April up to June this year due to the steady increase in revenues from wireless and home broadband.

“Our revenues in the first four weeks of the lockdown — spanning the last half of the March and the first half of April — were hardest hit. However, starting the week of Easter Sunday in April, following through the balance of April, then May and onwards to June, we have seen a steady upward March of our revenues especially in wireless and home broadband. Accordingly, revenues in April and May this year are ahead of last year,”

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Pangilinan

PLDT ‘s service revenues in first half are expected to be better than the P76.7 billion consolidated service revenues reported in the same period of last year; while telco core income will improve this year from P13.2 billion last year.

“I can assure you that we have steady hands on the tiller, and the ship itself is sturdy. I can add that PLDT, is in fact, emerging stronger from this pandemic,” Pangilinan said.

In January to March this year, PLDT’s service revenues increased by 9 percent to P41.5 billion This increase was driven by data and broadband services, particularly on its wireless network, which now account for 71 percent of total revenues. PLDT’s telco core income (which excludes the impact of asset sales and Voyager Innovations) climbed 13 percent to P27.1 billion in the first quarter this year versus last year.

PLDT trimmed down its capital expenditures by P20 billion to P63 billion from original budget of P83 billion due to limited mobility during the quarantine periods.

Despite lower capex, Pangilinan said the company is still on track to launch the fifth generation (5G) technology in the country by the fourth quarter which was pushed back from original target of middle of this year.

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