PLDT PROFIT PLUNGES ON ‘BIG ONE-TIME HIT’

LOWER revenues and a continued modernization effort saw Pangilinan led-PLDT, Inc.’s 2017 net income plunge by 33 percent to P13.4 billion.

telco said the net income drop — from due to non-core capex-related expenses

This included a “swap of network elements in a certain part of the

Chua explained that the swap was

Consolidated revenues totaled percent year on year and attributed to declines for the mobile and home broadband business.

accounted for the bulk of revenues at

in the wireless business.

“as reduced subsidies and provisions of services and manpower reduction

The company also saw its subscriber mobile and home broadband clients 63.03 million a year earlier.

network business.

PLDT said.

the woods. But it seems like we’re

billion last year — was forecast to the back of an estimated 4 percent