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PLDT reports 95% boost in Q3 2020 net income from increased data, broadband demand

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With people stuck in their homes amid the global health issue, huge demand for broadband and data for work-at-home setups and remote learning led PLDT to see a 95%, year-on-year increase in net income for the third quarter of 2020.

From ₱3.8 billion in Q3 2019, PLDT has disclosed a reported income of ₱7.4 billion for Q3 2020 for all its core businesses. The telco’s service revenues also saw a 10% jump from a year ago, or an additional ₱4.1 billion, to ₱43.7 billion. 

At the rate at which their income and revenue are increasing, PLDT’s chief finance officer, Annabelle Chua, is confident the company will surpass their 2019 core income despite the setbacks brought by the COVID-19 pandemic.

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Anticipating more Filipinos to adopt a more online lifestyle at home, PLDT has set out an expansion plan that involves investments in fiber ports, submarine cables and cable landing stations, as well as the erection of over 2,000 new cell sites for its wireless communications subsidiary, Smart.

PLDT’s chairman and chief executive officer, Manuel Pangilinan, sees his company in a leading position in digital empowerment. He aims for the company’s future growth by solidifying its foundations: having the best network, products, and customer service.

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