PLDT reports slowest profit growth in five quarters

3 Aug 2010

Filipino operator Philippine Long Distance Telephone Company (PLDT), the country’s largest company by market valuation, said net income for the three months ended 30 June 2010 increased at their slowest rate in five quarters amid increased competition from the likes of Globe Telecom. The telco booked net income of PHP10.26 billion (USD228 million) in the three-month period, up 1% compared with PHP10.10 billion a year ago – the slowest pace since earnings fell in 1Q09. Revenues for the second quarter of 2010 fell for the third quarter in a row as the operator offered low-cost packages (such as an unlimited mobile calls and SMS bundle for just PHP30 per day), in an attempt to compete in a heavily saturated domestic cellular market. President Napoleon Nazareno said that PLDT’s average monthly phone bill fell 16% to PHP164 in the first half of this year, impacted by the increased take-up of social networking sites such as Facebook which is reducing demand for SMS in the country.

Philippines, PLDT (incl. Smart Communications and Sun Cellular),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share