PLDT Inc. reported a P9.07 billion net income in the first quarter this year, slightly down from P9.15 billion in the same period in 2022.
PLDT remains optimistic about sustaining growth despite challenging macro-economic environment.
Consolidated revenues grew 2 percent to P47.1 billion versus last year’s P46.1 billion led by home and enterprise. Data and broadband, which grew by 6 percent to P38.1 billion, contributed 82 percent of consolidated service revenues.
Manuel Pangilinan, PLDT chairman said the first quarter results are a demonstration of the resilience of the company and its people, reiterating PLDT’s ambition to reinvent itself by 2025 as industry thought leader, employer of choice of Filipinos, and a responsible corporate citizen.
“The capex overrun issues have largely been resolved; it is time in 2023 for PLDT to face forward, and move on. We should now channel our energies towards keeping the PLDT Group well-positioned for growth amidst this challenging macro-economic environment,” said Pangilinan.
Driven by higher service revenues, consolidated earnings before interest, taxes, depreciation and amortization also grew 2 percent to P26 billion in the first quarter, due to higher revenues partly offset by the increase in operating expense, excluding Manpower Rightsizing Program expenses of P1.5 billion.
