PLDT Inc. said Tuesday it expects first-half earnings in 2020 to grow from a year ago despite the impact of the coronavirus pandemic.
“Our revenues in the first four weeks of the lockdown—spanning the last half of March and the first half of April—were hardest hit. However, starting the week of Easter Sunday in April, following through the balance of April, then May, and onwards to June, we have seen a steady, upward March of our revenues especially in wireless and home broadband,” PLDT chairman Manuel Pangilinan told participants of the company’s virtual annual stockholders’ meeting.
Pangilinan said revenues in April and May this year were ahead of last year. “Given this momentum, it is likely that service revenues for the first six months this year will improve over last year’s despite the pandemic,” Pangilinan said.
PLDT’s service revenues in the first half of 2019 amounted to P76.7 billion, up 7 percent from the same period in 2018.