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PLDT hopeful of exceeding 2019 profit guidance


PLDT Inc. is optimistic of exceeding its core income guidance of P26 billion this year, on the back of the surprise strength in the company’s wireless business.

“I think 2019 would be better. We’re guided at P26 billion—2018 was P24 billion, but I think we’ll be better than P26 billion,” PLDT chairman and CEO Manuel Pangilinan told reporters on the sidelines of the company’s annual stockholders meeting in Makati City.

The company reported a P25.855 billion core income in 2018, down 7% from a year earlier given the losses from Voyager Innovations Inc.

This year would be “fueled by the significant growth of wireless, Pangilinan said.

“Actually, enterprise rises consistent naman ... Low double-digit, that’s the expectation this year, but wireless is surprisingly on the upside,” he explained.

In the first three months of the year, PLDT’s wireless business registered a 12% increase in revenue at P1.5 billion versus P1.4 billion in the same period last year.

The entire enterprise business’ revenue rose by 9% to P9.8 billion in the first quarter from the P9.0 billion in the first three months of 2018. —VDS, GMA News

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