PLDT eyes higher Q3 revenue, boosted by Maya, home, enterprise units

PLDT INC. expects to report higher third-quarter revenue, driven by its digital bank Maya and its home and enterprise businesses, Chairman and Chief Executive Officer Manuel V. Pangilinan said on Wednesday.

“Our third quarter is slightly better than the previous two quarters,” he told reporters on the sidelines of an event. “Maya helps, although [it was] slightly affected by the linking from the gaming sites. Profits for the third quarter were up.”

The Pangilinan-led telecommunication company will release its third-quarter results next week.

In the first half, PLDT’s attributable net income fell 1.47% to P18.14 billion from a year earlier, as higher expenses outpaced revenue growth.

Despite this, its second-quarter attributable net income rose 6.05% to P9.11 billion, supported by steady performance in its core segments. Total revenues for January to June inched up 1.85% to P109.57 billion.

Mr. Pangilinan said the company is still searching for a replacement for Anastacio R. Martirez, who stepped down as Smart Communications, Inc. chief operating officer (COO) last month to pursue entrepreneurial ventures.

He said the next Smart COO could come from outside the company and might be from a younger generation.

“I wish [he] were a Gen Z, or a younger fellow or even a Millennial. The future belongs to them,” Mr. Pangilinan said.

Mr. Martirez, who had served as COO since September last year, cited plans to explore business opportunities after his resignation.

At the local bourse, PLDT shares rose 0.71% or P8 to close at P1,137 each.

Hastings Holdings, Inc., a unit of the PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group. — Ashley Erika O. Jose