PLDT Inc. said profit for the first nine months was flat at P27.9 billion compared to its bottomline last year of P27.62 billion, a 1percent uptick.
Service revenues picked up 3 percent to P149.8 billion from P145.44 billion last year driven by sustained growth in broadband, mobile and enterprise businesses.
“The company has done reasonably well against a tough inflationary environment, relatively high interest rates, and slowing economic growth. In this regard, we are guiding full-year core net income of P34 billion, compared with P33.3 billion in 2022,” said Manuel Pangilinan, PLDT chairman.
For this year, Pangilinan said during the financial briefings that the company expected a low single-digit growth in both service revenue and EBITDA (earnings before interest tax depreciation and amortization) this year. While telco core income is expected to reach P34 billion by year-end.
The nine months EBITDA grew 4 percent to P78.4 billion, attributed to higher revenues and lower operating expenses. EBITDA margin was at 52 percent for the period.