earnings reports

‘Record-breaking’ 2021: PLDT core income hits P30.2 billion

Ralf Rivas
‘Record-breaking’ 2021: PLDT core income hits P30.2 billion
Hybrid work, video streaming, and e-commerce push PLDT's service revenues to an all-time high

MANILA, Philippines – PLDT’s core income rose 8% to P30.2 billion in 2021, while service revenues jumped to an all-time high.

On Thursday, March 3, PLDT said service revenues reached P182.1 billion, driven by hybrid work, home studying, as well as streaming, gaming, and e-commerce amid the pandemic.

“2021 proved to be a record-breaking year for PLDT as we delivered all-time highs across the board despite the challenges brought about by the pandemic, calamities, and hyper competition,” said Alfredo Panlilio, PLDT and Smart president and chief executive officer.

More Filipinos opted to install fiber internet services in their homes, pushing home segment revenues up 24% to P47.8 billion.

Revenues from individual prepaid and postpaid cellular plans remained flat at P86.2 billion.

As of end-2021, PLDT’s total subscribers had reached over 78.8 million, slightly lower than the 79 million in 2020.

In line with PLDT’s dividend policy of paying out 60% of telco core earnings, a final cash dividend of P42 per share will be paid out on April 4 to shareholders on record as of March 17. An interim dividend of P42 per share was paid in September 2021, bringing total dividends paid for 2021 earnings to P84 per share.

Shares of PLDT were among the most actively traded on Thursday, closing 4.6% higher. – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.