Telco giant PLDT Inc. reported a 60 percent decline in its profit, primarily due to the cost of accelerated network and technology upgrades.
Despite the decline, PLDT’s core business remains sound, with solid EBITDA numbers, according to Alfredo S. Panlilio, the company’s president and CEO.
PLDT’s consolidated service revenues increased by 6.2 percent to P205.24 billion, while total expenses rose to P210.74 billion.
Bilyonaryo Manuel V. Pangilinan, PLDT’s chairman, expressed optimism for the future and vowed to continue pursuing the company’s mission of enabling a digital life for every Filipino and improving lives as they approach their 100th year.
