PLDT rings in P9.8 B profit in Q1, up by 9%

PLDT, the country's largest telco, is adjusting well to the shrinking market for broadband products and spiraling cost of goods and services as it generated earnings of almost P10 billion in the first quarter of the year.

- ELIJAH FELICE ROSALES

Based on its financial statement, PLDT's profit improved by nine percent to P9.82 billion in the first quarter from P9.02 billion a year ago, showcasing its ability to expand in the face of industry challenges.

PLDT's core income-computed as profit from the primary business of the telco excluding extraordinary items - likewise went up by eight percent to P9.32 billion.

With this, PLDT is on track to hit its core income guidance for the year of P35 billion. The telco is aiming to expand the business even though the connectivity market is becoming over-saturated and inflation is starting to pick up again.