PLDT optimistic on exceeding 2019 core income guidance

MANILA — PLDT Inc. is confident about breaching its core income guidance of PHP26 billion this year, with the growth of wireless services as its primary driving force.

“I think 2019 would be better; we are guided at PHP 26 billion. In 2018, it was PHP 24 billion but I think we’ll be better than PHP 26 billion,” PLDT Chairman and CEO Manuel V. Pangilinan told reporters on the sidelines of its annual stockholders’ meeting in Makati City on Tuesday.

“Numbers are looking good fueled mainly by the significant growth of wireless,” he added.

The core income of PLDT has increased by 6 percent to PHP7.2 billion in the first quarter of 2019 from only PHP6.8 billion posted during the same period last year, driven by increasing revenues from its data and broadband services.

Its consolidated service revenues for the first three months of the year has increased by 7 percent year on year to PHP38 billion due to the strong performance of its Wireless Individual business.

PLDT is eyeing to spend PHP78.4 billion in capital expenditures this year for the expansion of its 4G and LTE services, rollout of 5G technology and installation of its last-mile and customer-premises equipment, such as modems and optical network units for the delivery of broadband Internet to its subscribers.  Aerol John Pateña / PNA –