PLDT net income for 2016 is Php27.9b, down from Php35.2b in 2015
PLDT announced their 2016 fiscal year performance today, claiming a core net income of Php27.9 billion. This is 21% lower than their net income in 2015 (Php35.2 billion).
The company also posted a consolidated revenue of Php147.6 billion which is down from the Php171.1 billion they made in 2015.
PLDT has been rapidly pushing for its digital shift since last year. PLDT Chief Technology Adviser Joachim Horn says that “they are aiming for Smart LTE coverage to about 70% of the population this year and up to 95% of the population by end of 2018”.
Last year, PLDT also posted a 35% drop in net income (see story here) and lost about 5 million customers to rival Globe Telecom.