PLDT H1 revenue unchanged at PHP18.4 billion

PLDT. PHOTO FROM INQUIRER ARCHIVES

MANILA, Philippines — Telecommunications giant PLDT Inc. reported profits of PHP18.4 billion in the first half of the year, as its core businesses grew moderately.

In a statement on Tuesday, the Manuel Pangilinan-led telecommunications company said service revenue rose four percent to 103.4 billion pesos.

“Even as we continue to face challenges – such as geopolitical uncertainties, significant gravitational pull in the telecommunications sector and an increasingly competitive telecommunications landscape – we remain determined to do everything in our power to grow the business,” said President and CEO Pangilinan.

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Meanwhile, revenue in the company’s wireless segment increased four percent to PHP 41.9 billion, driven by the mobile data business.

Mobile data revenue increased eight percent to PHP 37.1 billion.

During the same period, PLDT Home’s revenue from fiber-only services increased by seven percent to PHP 27.6 billion.