PLDT Inc. said it expects its wireless consumer business to complete the turnaround this year, after posting a fourth consecutive quarter of growth.
The wireless consumer business of PLDT posted P45.5 billion in revenues in the first nine months, up by 4 percent from a year ago, on the back of strong mobile internet revenues and mobile data traffic growth driven by mobile video.
“The consumer wireless business will complete its turnaround this year, as revenues accelerate from a modest single-digit growth of 2 percent in first quarter and second quarter, to high single-digit growth of 8 percent for the third quarter, which now stands at P15.6 billion in revenues, the highest in the last eight quarters,” PLDT and Smart senior vice president for consumer market development Oscar Reyes Jr., senior said.
“Coming from the first three quarters of last year, when the business declined by P7.1 billion, this year’s performance shows an P8.8-billion positive swing in our wireless consumer business,” Reyes said.
Wireless consumer data revenue grew to P9.5 billion in the third quarter, pushing data revenue contribution to a new high of 61 percent.