PLDT reports 44 percent hike in 2018 net income

March 7, 2019

PLDT Inc. on Thursday reported a 44 percent increase in net income in 2018, boosted by higher sales from its business segments last recorded in 2014.

The country’s largest telecom company said net income amounted to P19.2 billion last year from P13.3 billion in 2017.

Consolidated core income went down by five percent to P26.2 billion, which included gains from PLDT’s loss of control of Voyager and from selling  Rocket Internet shares offset by accelerated depreciation from its aggressive network transformation programs.

Excluding Voyager operations, PLDT’s core income rose by 3 percent to P24.4 billion.

“Given the positive trends in 2018 and our plans for 2019, we expect our telco core income to rise to P26 billion,” Manuel Pangilinan, president and chairman of PLDT said.

“In 2019, we aim to attain a higher level of growth by leveraging even more the power of the combined PLDT and Smart, working as one team, focused on delivering the customer experience - not as a traditional telco as we have been - but as a data-driven, digital services company,” he added.

PLDT said 2018 was a breakthrough year for PLDT with all of its main revenue businesses – home, enterprise, and consumer wireless businesses – registering robust growth.

“This marks the return of growth in overall service revenues last recorded in 2014,” PLDT said. DMS