PLDT has maintained a positive outlook for its performance throughout 2023 despite the challenging economic conditions.
At its third-quarter media briefing on Tuesday, Nov. 7, 2023, the Pangilinan-led firm revealed that it registered 55.2 million Smart mobile subscribers at the end of September, higher than its closest competitor Globe Telecom with 54.7 million, and with Talk ’n Text once again being the leading SIM brand.
“The subscriber numbers have grown ahead of Globe, but our revenues are still behind Globe. So there’s a big task ahead on the revenue side,” said PLDT chairman Manuel Pangilinan.
“I don’t think the battle should be on the subscriber numbers... The game is on your ability to grow the market,” he said.
Alfredo Panlilio, PLDT and Smart president and chief executive officer said the company is trying to acquire more customers with programs like prepaid eSIM, to activate more customers.
eSIM is a digital version of a physical SIM card that allows for a quick and hassle-free way for mobile users to enjoy local data, call and text services without having to insert a physical SIM card into their devices.
The Pangilinan-led firm reported a net income of P27.9 billion in the first nine months of 2023 on the back of strong service revenues.
Consolidated service revenues (net of interconnect costs) grew by P1.1 billion to reach P142.3 billion in the first nine months of 2023.
In the third quarter alone, consolidated service revenues grew by P0.3 billion to P47.8 billion compared with the second quarter.
Data and broadband, which grew by four percent, or P4.1 billion, to P116.9 billion, contributed 82 percent of consolidated service revenues.
Telco core income, excluding the impact of asset sales and Maya Innovations Holdings (formerly Voyager Innovations Holdings), reached P26.1 billion, up P0.5 billion or two percent from the same period last year.
PLDT’s capital expenditure for the first nine months of 2023 amounted to P55.3 billion, lower than the P67.3 billion for the same period last year.
Pangilinan maintains a positive view of PLDT’s performance amid a tough economic environment.
“The company has done reasonably well against a tough inflationary environment, relatively high-interest rates, and slowing economic growth. In this regard, we are guiding full-year core net income of P34 billion, compared with P33.3 billion in 2022,” he said.
PLDT Home’s fiber-only service revenues grew by 10 percent, or P3.6 billion, to P39.3 billion in the first nine months of 2023.
Its total fiber subscribers as of end-September 2023 stood at 3.14 million, with 210,000 fiber net additions for the first nine months. The third quarter saw an increase in net adds to about 88,000 from around 42,000 in the second quarter.
Its total number of fiber ports rose to 6.15 million, covering over 18,000 barangays nationwide.
It has deployed fiber connections in cities and municipalities, including major tourism hubs in the country, such as the Island Garden City of Samal in Davao, Siargao Island in Tacloban, Bantayan Island in Cebu, and Cagayan de Oro.
Its individual wireless segment, on the other hand, posted revenues of P60.6 billion in the first nine months of 2023, higher year-on-year by P0.3 billion, as mobile data revenues grew by five percent to P52.4 billion for the period.