Amid an increasingly difficult macroeconomic landscape, PLDT Inc. said March 7 it logged gross service revenues of P201.8 billion, or a three percent growth, while net of interconnect costs stood at a record P191.4 billion in 2023.
Excluding revenues from legacy businesses, data and data-related net services revenues were higher by six percent year-on-year; data and broadband, which grew by four percent to P157.6 billion, contributed 82 percent of consolidated service revenues.
“PLDT is aiming not just for higher profits but to return PLDT and Smart to their premier positions, where they rightfully belong. This requires a commitment to excellence all around—encompassing the quality of our network, the efficiency of our installations and repairs, the innovations we pursue and the speed of our services,” Manuel Pangilinan, PLDT and Smart chairman and chief executive officer said at the hybrid Full Year Earnings briefing.
Consolidated EBITDA also grew to a record P104.3 billion. Reported net income grew by 154 percent to P26.6 billion in 2023, the report added.
Wireless consumer mobile data revenues, meanwhile, accounted for 87 percent of total individual wireless revenues, with active data users growing to 39.0 million.
Driving this increase in data usage are Smart’s long-validity offers, higher velocity topup products, and the recently launched eSIMs.
Smart also recently announced a collaboration with Google Cloud, becoming one of the first mobile operators in the world to deploy Telecom Subscriber Insights, Google Cloud’s AI-powered solution that will enable Smart’s subscribers to access and engage with relevant offers as needed.
As of end 2023, Smart had registered 57.8 million mobile subscribers.
“PLDT is charting a bold, new course, armed by strategic foresight and our unwavering commitment to excellence,” Pangilinan said in a statement. “Our updated vision is to reshape the PLDT Group, strengthening our market leadership, pursuing growth and value, and spearheading our transformative drive towards becoming a Digico.”
He said the formation of this digital entity will harness the data assets of the MVP Group of Companies and provide new growth opportunities for them. “Digico’s goal is to create an integrated platform that will bring a unified customer experience. This represents the first step in our collective effort to drive new growth using technology across the MVP Group.” ||
