Online stockbroker Colfinancial.com said telco earnings in the first quarter of the year grew 4.3 percent to a consolidated level of P15.9 billion from the prior year’s P15.24 billion, largely driven by the growth in home broadband and corporate and enterprise businesses.
“Home broadband revenues were up 4.8 percent on the back of higher fiber subscribers, partly offset by the continued decline in fixed wireless subscribers,” it said.
Colfinancial, however, said the growth was significantly slower than the 13.6 percent increase posted in 2022 as the increase in higher-average revenue per unit (ARPU) fixed line subscribers slowed down.
This was because the number of fixed wireless subscribers dropped 43.9 percent.
Colfinancial said subscriber additions are showing signs of a maturing postpaid market.
Corporate and enterprise revenues meanwhile grew 9.3 percent to P17.4 billion.
Mobile revenues, which accounted for bulk of revenues, were flat as higher blended ARPU offset the decline in subscriber count, Colfinancial said.
On a per company perspective, said PLDT Inc.’s results exceeded market expectations while Globe Telecom Inc.’s were in line with expectation, Colfinancial said.
Converge ICT Solutions Inc. fell below expectations.
