PLDT sees profit picking up in Q3

MANILA, Philippines - The country’s leading telecommunications service provider Philippine Long Distance Telephone Co. (PLDT) likely posted higher net profit in the third quarter compared to a year ago due to the growth of the wireless and fixed line businesses, according to the firm’s top executive.

PLDT president and chief executive officer Napoleon Nazareno told reporters the firm’s third quarter net earnings were “better than last year.”

“Both wireless and fixed line will drive growth,” Nazareno said.

He noted the trend in the past two months of the quarter has shown slight improvement from the previous year.

PLDT’s net income reached P7.9 billion in July to September last year.

Core profit, which does not take into account foreign exchange gains or losses and other non-recurring income, amounted to P8.7 billion in the third quarter of 2014.

As of the first-half, PLDT’s net profit stood at P18.7 billion while its consolidated core net income reached P18.9 billion.

PLDT has set a core net income guidance of P35 billion this year.

To grow its business, the telecommunications giant is focused on enhancing the customer’s digital experience through improved network capability and partnerships for new offerings.

In line with its thrust to offer customers an enhanced digital lifestyle, the company announced yesterday its home digital services provider PLDT HOME partnered with ride-sharing application Uber to allow fixed line broadband subscribers to easily enjoy the benefits of the app.

As part of the strategic partnership, PLDT HOME, Telpad and DSL subscribers who are first time users of the ride-sharing app are eligible to free Uber rides starting Oct. 1.

PLDT HOME Fibr subscribers who are first-time Uber riders will get two free rides worth up to P500 each, while Telpad and DSL subscribers using Uber for the first time will get one free ride worth up to P300.

“PLDT HOME and Uber share the same vision of providing our customers with digital solutions that add value to their daily lives, in this case, safe, reliable and affordable rides within Metro Manila. We are confident that this partnership will break new ground in the country’s digital landscape,” said Gary Dujali, PLDT vice president and head of HOME marketing.

PLDT HOME’s partnership with Uber expands the collaboration between the PLDT Group and Uber.

Mobile subsidiary Smart Communications Inc. earlier started to roll out free in-car WiFi in Uber vehicles and offered special promotions for Uber riders on its mobile network.