Metro Manila (CNN Philippines, November 4) — Telco giant PLDT is confident of hitting its earnings goal for 2021 as the group’s home business continues to enjoy strong growth, while its wireless unit expects a boost from the easing of COVID restrictions.
“PLDT remains on track to reach full year telco core income guidance of ₱30 billion,” it said in a disclosure Thursday.
The Pangilinan-led group’s telco core income in January to September period jumped 10% to ₱23.1 billion on lower tax rates.
Consolidated service revenues also went up 7% to ₱135.9 billion in the first nine months, lifted by its third-quarter topline amounting to ₱46 billion.
Revenues from its home broadband business reached ₱35.3 billion as remote work and distance learning continued to be the norm.
The group’s enterprise unit, meanwhile, generated ₱31.1 billion in revenues. PLDT chief finance officer Anabelle L. Chua said the group will shell out ₱5 billion to fortify its position in the data center market, targeting global tech giants.
PLDT’s chairman Manuel V. Pangilinan said these two segments will emerge as “major growth drivers” for the firm in the next three years.
The tycoon said PLDT’s wireless business was the “most affected” segment due to the current economic conditions and heightened competition.
In the first nine months, its wireless business grew 3% to ₱65.1 billion.
However, Alfredo S. Panlilio, president and chief executive officer of PLDT and Smart Communications, Inc., is optimistic the gradual relaxation of pandemic curbs “will help the wireless business.”
This was echoed by Jane Basas, senior vice-president and head of consumer wireless business at PLDT’s Smart Communications, Inc.
“As we see mobility improving in the fourth quarter, we do see improvement in revenues,” Basas said.
