PLDT Inc. has just announced their 2017 financial and operating results. The report shows that the company had a really slow growth last year. However, the company’s efforts in streamlining its operations and improving its services point them on the right path.
The company’s unaudited financial and operating results plus, the consolidated service revenues of last year totaled to an amount of Php143.5 billion. This number is actually 3% down from last year’s results. But according to PLDT, 2016’s quarterly wireless revenue was on a downhill, but it became stable which resulted in modest sequential increases in 2017.
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Both the Home and Enterprises Business Groups led the growth for PLDT. The two were able to put up Php33 billion and Php34.1 billion in revenues, respectively. That’s a 13% and 11% growth from the previous year.
On the downside, the Wireless Consumer Group was down by 11%, an amount of Php58.9 billion, in 2017. Although PLDT claims that the decline has “leveled off and stabilized” during the year.
PLDT has a consolidated EBITDA of Php66.2 billion, which is Php5 billion higher year-on-year. The margin was also up to a higher 44% from the previously recorded 39%.
In total, the company got a net income of Php13.5 billion for 2017 — a 33% or Php6.6 billion decrease from 2016. This is mainly caused by the company’s commitment to aggressively upgrade their services in preparation for the third telco player.
Source: PLDT Home