PLDT service revenues rise 21% despite tough conditions

PLDT Home said its service revenues grew 21 percent in the first nine months of the year to P42.7 billion despite challenges posed by shrinking consumer wallets and the impact of inclement weather.

It’s fiber-only service revenues increased 52 percent year-on-year to P35.7 billion in the first nine months.

Fiber already accounts for 84 percent of total PLDT Home revenues, 67 percent higher than last year.

PLDT Home president and head of consujer business Jeremiah de la Cruz said the increase was due to the gross additions of 286,000 customers in the third quarter as the PLDT unit continued to extend its fiber network’s reach.

This brought PLDT Home’s fiber customers to 2.9 million at the end of September and total fixed broadband subscribers to 3.24 million, with customers enjoying average speeds of over 100Mbps as confirmed by Ookla Speedtest Awards, he added.

This despite the ongoing clean-up of customers affected by Typhoon Odette and the economic challenges hobbling consumers’ ability to spend.

PLDT Home is confident it will sustain growth moving forward as the company continues to expand its fiber network to underserved and unserved areas.

As it moves into the lower-end of the consumer market, PLDT Home designing service packages that will address both high-quality service and affordability—an overarching goal within the PLDT group.

The latest Speedtest Global Index report from internet analysis firm Ookla ranked the Philippines as fifth in terms of median download speeds among Southeast Asian countries.

“Our goal at PLDT Home remains constant: Provide Filipinos with world-class quality services so they could continue working and studying at home wherever they are in the country at price points they could afford,” de la Cruz said.

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