Enterprise, Home drive PLDT’s income growth in Q3

Philippine integrated telco PLDT reported a growth of 45% from January to September which reached P27.4 billion. In a briefing Thursday, the company disclosed that its profit also grew to P11 billion in the third quarter and total revenues were at P152.92 billion up by 6%.

For the third quarter, the telco’s net income jumped to P10.64 billion (79%) from P5.93 billion in the same period last year.

PLDT Enterprise posted a record P12 billion in revenues in the third quarter which contributed to the total revenues of P35.2 billion or an increase of 9%. Services such as managed networking services, data centers, and the cloud, as well as fixed data and fiber broadband, backed the increase.

PLDT income up by 30% in 1H2022
PLDT Enterprise first-quarter revenues up by 7%

The demand for data centers from hyperscalers is also expected to contribute to its growth in the coming months. PLDT is adding more data centers with the construction of its VITRO data center in Sta. Rosa, Laguna.

PLDT Home, which was predicted to be the revenue driver this year, has reached 3.24 million fixed broadband and 2.9 million fiber-only subscribers. The unit posted a 21% improvement or P42.7 billion.

The tower sales generated P57.7 billion from the P77-billion sale and leaseback deal for 5,907 telco towers. In previous announcements, the telco said most of the towers, or 75% have been turned over to the buyers. The company is looking at the sale completion by the end of 2022.

Its mobile data segment grew by 2% reaching P53.7 billion.

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