PLDT telco core income at P18B in H1 2024

Pangilinan-led integrated telecommunications giant PLDT Inc. posted a single-digit earnings growth from its core telco business in the first half of 2024.

At a press briefing in Makati City, PLDT chief finance officer Danny Yu said PLDT booked a telco core income of P18.014 billion, up 3% from P17.562 billion.

PLDT’s telco core income excludes the impact of asset sales and operations of Maya Innovation Holdings.

This is on the back of 4% growth in gross service revenues to P103.4 billion.

“Even as we continue to face challenges—among these geopolitical uncertainties, significant gravity in the telco space, and an increasingly competitive telco landscape—we remain determined to do our best to grow the business,” said Manuel Pangilinan, PLDT and Smart chairman and CEO.

PLDT’s individual wireless segment saw revenues of P41.9 billion in the first half 2024, up 4% year-on-year.

Mobile data revenues, which account for 89% of total individual wireless revenues, stood at P37.1 billion, up 8% from a year ago.

PLDT Home, meanwhile, posted fiber-only revenues of P27.6 billion, up 7% year-on-year.

Fiber-only revenues account for 92% of PLDT Home’s first half bottom line of P30 billion.

Business-to-business segment under PLDT Enterprise reported revenues of P24 billion. —RF, GMA Integrated News