Telco giant PLDT sustained its growth momentum with net income soaring 56 percent to P9.1 billion in the first quarter amid a surge in demand for internet services.
Core earnings climbed nine percent to ₱8.2 billion as service revenues reached an all-time high of P46.4 billion, driven by Home and Enterprise.
Revenues from fiber-only service soared to a record P11.1 billion, driven by the continued rollout of its network to address the growing demand for faster internet access.
Given the return of business activity with the easing of movement restrictions, corporate broadband connections rose eight percent.
Alfredo Panlilio, PLDT and Smart president and CEO, said PLDT is on track to meet its targets for the rest of the year, with service revenues expected to post mid-single digit growth.
“This growth in service revenues will be underpinned by our continued rollout of fiber ports and LTE/5G, our data center
expansion, and our commitment to delivering the best customer experience,” Panlilio said.
PLDT’s telco core income, on the other hand, is expected to grow to P33 billion this year from P30 billion in 2021.
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