PLDT's net income plunges 33% to PHP 13.4 billion in 2017

Thursday 8 March 2018 | 13:54 CET | News
Philippines operator PLDT reported consolidated service revenues (net of interconnection costs) of PHP 143.5 billion for the twelve months of 2017. Though 3 percent lower than in 2016, service revenues stabilized in 2017, as the decline in quarterly wireless revenues moderated in the course of the year, PLDT said. Reported net income for 2017 declined by 33 percent to PHP 13.4 billion. This was mainly due to non-core capex-related expenses of PHP 16.7 billion in connection with the operator's transformation initiatives, including accelerated depreciation and loss due to a swap of network

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Categories: Fixed / Internet / Mobile & Wireless
Companies: PLDT / Smart Communications
Countries: Philippines
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