PLDT H1 income flat at P18.4 billion

PLDT. INQUIRER FILE PHOTO

MANILA, Philippines — Telecommunications giant PLDT Inc. posted flat earnings in the first half at P18.4 billion as its core businesses registered modest growth.

In a statement on Tuesday, the Manuel Pangilinan-led telco firm said service revenues inched up by four percent to P103.4 billion.

“Even as we continue to face challenges – among these geopolitical uncertainties, significant gravity in the telco space and an increasingly competitive telco landscape – we remain determined to do our best to grow the business,” chair and CEO Pangilinan said.

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However, the company’s individual wireless segment saw revenues increase by four percent to P41.9 billion, driven by the mobile data business.

Mobile data revenues grew by eight percent to P37.1 billion.

Meanwhile, PLDT Home’s fiber-only service revenues climbed by seven percent to P27.6 billion.