PLDT INC. registered a strong start as it generated P9.3 billion in earnings in the first quarter of 2024, a 9% increase from P9.02 billion last year.
Based on their financial results disclosure on May 8, PLDT attributed the increase mainly to the river tips and tower gain sales in 2024.
Likewise, PLDT Telco Core income, the company’s primary sales excluding the impact of asset sales and items, went up to P9.3 billion, from P8.3 billion in 2023, and is considered the highest since 2012 when it comes to its quarterly average.
“PLDT continues to leverage its unique advantage of having an integrated network which enables it to offer a suite of fixed and wireless services at different price points to cater to different market segments,” PLDT Inc. financial chief Danny Yu explained during the forum.
PLDT Inc. also announced their improvement in mobile data revenues with a growth of 11% compared to Q1 of 2023, 7% growth in prepaid, and 7% rise in postpaid.
Their initiatives to accelerate revenue growth include locking in revenues with long validity and auto-renew; driving retention of subscribers with eSIM; growing 5G adoption with exclusive 5G offers and 5G device migration offers on Postpaid and Prepaid; and establishing a structured price laddering on Prepaid services.
WFH setup and connectivity challenges
Meanwhile, PLDT Inc. Consumer Business Home head Jeremiah Dela Cruz noted that the company saw a small influx of applications after a series of work-from-home arrangements due to the high heat index in the country.
“So it wasn’t necessarily customers that were looking to reconnect in terms of overall usage, yes, we are seeing more usage on our network over this period,” Dela Cruz said.
He said the heat might be a little harder for them in terms of climbing poles and its impact on some of their equipment which would also influence the company’s connectivity towards their customers.
“However, we have been working quite diligently to ensure that we keep our services up and running for our customers during these challenging times,” he said.
