PLDT sees better profit in 3rd quarter
Philippine Long Distance Telephone Co. said it expects to post a “better” net profit in the third quarter of 2015 than last year’s.
“The trend in the past two months of the quarter is slightly better than last year,” PLDT president and chief executive Napoleon Nazareno told reporters.
Nazareno said both wireless and fixed-line businesses were expected to drive growth in the third quarter.
PLDT, partly owned by Hong Kong’s First Pacific Co. Ltd. and Japan’s NTT group, posted a net income of P7.9 billion in the third quarter of 2014, down by 14 percent from P9.2 billion in the same three months of 2013.
The country’s largest telco earlier reported a net income of P18.9 billion in the January to June period this year, down from P19.8 billion in the same period last year.
Consolidated revenues dropped 2 percent to P81.2 billion in the first semester, as revenues from the international and national long distance segments continued to sag.
Wireless service revenues amounted to P55.59 billion while data broadband revenues reached P23.02 billion.
PLDT Group’s mobile phone subscriber stood at 68.9 million as of end-June while broadband subscriber base reached 4.9 million.
“The rapid decline in our toll revenues continues to beard down on our medium-term revenue growth, with the onslaught of the Internet causing adverse substitution,” PLDT chairman Manuel Pangilinan earlier said.
The company set a core profit guidance of P35 billion this year, or 6.4 percent lower than last year.
The company raised its planned capital expenditures to P43 billion this year from the original guidance of P39 billion.
Meanwhile, PLDT Home, a unit of PLDT Group, teamed up with the world’s leading ride-sharing tech company Uber to bring the trailblazing transport service for Filipino families to experience a richer digital lifestyle.
PLDT Home and Uber recently formalized a strategic partnership where the telco’s broadband subscribers can more easily enjoy the benefits of the innovative transport service when they download the Uber app on their computers, Telpads, and any smart devices at home.
As part of the exclusive offer, PLDT HOme Fibr subscribers who are first-time Uber riders will get two free Uber rides worth up to P500 each, while Telpad and DSL subscribers using Uber for the first time will get one free ride worth up to P300, starting Oct.1.
“PLDT HOME and Uber share the same vision of providing our customers with digital solutions that add value to their daily lives, in this case, safe, reliable and affordable rides within Metro Manila. We are confident that this partnership will break new ground in the country’s digital landscape,” PLDT vice president and head of Home marketing Gary Dujali said.
PLDT Home accounted for a market share of over 70 percent in the first half of the year, as it boosts its broadband service with an array of digital services.
Its robust fixed and wireless networks supported by the country’s most expansive fiber optic network, spanning more than 100,000 kilometers, allow PLDT Home to provide the digital lifestyle needs of its subscribers.