PLDT Inc. Reports Solid Growth in 2024 Earnings

PLDT, Inc. ( (PHI) ) has released its Q3 earnings. Here is a breakdown of the information PLDT, Inc. presented to its investors.

PLDT Inc., the Philippines’ largest integrated telecommunications company, provides a wide variety of telecommunications and digital services across the country’s most extensive fiber optic backbone, fixed line, and cellular networks. In its latest earnings report, PLDT Inc. announced a robust performance for the first nine months of 2024, with a 4% increase in consolidated gross service revenues, reaching ₱155 billion. The company saw a 2% rise in net service revenues to ₱144.9 billion, with data and broadband services contributing significantly at 83% of total service revenues.

Key financial metrics showed PLDT’s continued growth, with consolidated EBITDA increasing by 3% to ₱80.7 billion and a stable EBITDA margin of 52%. Mobile data revenues saw a 5% rise to ₱55.2 billion, and fiber-only revenues increased by 6% to ₱41.7 billion. The enterprise segment also reported growth, with revenues up by 4% to ₱36.1 billion, driven by rising demand in connectivity and ICT services.

The company continues to expand its network infrastructure, with significant investments in fiber and wireless networks. PLDT’s capital expenditures for the first nine months of 2024 stood at ₱52.3 billion, focusing on enhancing service delivery and expanding coverage in geographically isolated and disadvantaged areas. Additionally, Maya Bank, PLDT’s digital banking arm, is on track to achieve profitability by the end of the year, driven by its growing deposit base and loan disbursements.

Looking forward, PLDT remains committed to delivering exceptional customer service and expanding its network capabilities to meet the growing demand for reliable and comprehensive digital services. The company reaffirms its guidance for telco core income to surpass ₱35 billion for the full year, emphasizing its focus on innovation and customer satisfaction.