In terms of core earnings, profit grew 3 percent to P18 billion excluding asset sales and losses from Maya Innovations Holdings.
Reported net income was flat at P18.4 billion while earnings before interest, taxes, depreciation and amortization added 3 percent to about P54 billion.
Management’s view
“Even as we continue to face challenges—among these geopolitical uncertainties, significant gravity in the telco space, and an increasingly competitive telco landscape—we remain determined to do our best to grow the business,” said Manuel V. Pangilinan, the company’s chair and CEO.
"With the all-time highs delivered in recent periods behind us, we turn to the future that we are tasked to build for PLDT with careful optimism," he added.
For the whole of 2024, PLDT expects to reach more than P35 billion in core earnings, compared to full-year 2023 performance of P34.3 billion.
Cash dividends
PLDT’s board of directors announced a P50 cash dividend per share, payable on Sept. 11, 2024, to shareholders on record as of Aug. 27 this year.
Mobile revenues grow, optimistic on 5G
The individual wireless segment saw revenues grow by 4 percent to P41.9 billion, with mobile data revenues increasing by 8 percent to P37.1 billion, driven by higher demand for data services.
The telco giant also noted it was pushing hard for 5G adoption and has partnered with banks to help customers purchase 5G phones.
Major home fiber contribution
PLDT Home’s fiber-only services generated P27.6 billion in revenue during the first half of 2024, a 7 percent increase from the previous year.
Fiber services now make up 92 percent of PLDT Home’s total revenue of P30 billion, with 3.2 million fiber subscribers nationwide.
Maya turns cashflow positive…
PLDT said Maya Bank turned cashflow positive in the second quarter, with total loan disbursements reaching P46.8 billion.
Moreover, its banking user base grew significantly, with deposit balances reaching P32.8 billion by June 2024.
But it’s not yet a GCash killer
Maya’s borrowers rose to 1.2 million, and bank customers increased to 4 million.
Rival GCash, the country’s fourth most valuable financial player, had disbursed loans of over P150 billion with 5.4 million borrowers.
Steady enterprise segment
PLDT Enterprise achieved P24 billion in service revenues for the first half of 2024, with growth driven by strong demand in its core connectivity and ICT services.
