PLDT Home sustains record growth in 1Q

PLDT Home, the consumer group of telco and digital services provider PLDT, has sustained its growth on its revenues as it recorded a 32 percent net gain in subscribers for the first quarter of the year due to its aggressive rollout of fiber Internet and affordable broadband plans. (Photo: PLDT/ Facebook)

MANILA—PLDT Home, the consumer group of telco and digital services provider PLDT, has sustained its growth on its revenues as it recorded a 32 percent net gain in subscribers for the first quarter of the year due to its aggressive rollout of fiber Internet and affordable broadband plans.

PLDT Home registered a 10 percent year-on-year growth in its subscriber base with net ads of 340,000 subscribers during the first quarter, while revenues from both voice and data increased significantly at 6 percent and 16 percent, respectively.

PLDT Chairman and CEO Manuel V. Pangilinan explained that the highest growth was seen in PLDT HOME’s data services as the company pushes stronger and world-class internet connection so that more Filipinos can enjoy the digital lifestyle.

For his part, PLDT Chief Revenue Officer Eric Alberto said: “We envision to transform Filipino homes into Smart Homes by next year as we blanket the whole country with our fiber-fast connectivity and best-in-class digital services in entertainment, gaming, security, and learning at home.”

PLDT has been expanding the reach of its fiber-powered fixed line network to bring as fast as 1 gigabit per second (Gbps) internet speed in Filipino homes. As of end-March, PLDT’s fiber-to-the-home (FTTH) service has passed three million homes, on track to reach 4.4 million homes by yearend.

It has also started to deploy hybrid fiber technologies such as Huawei Technologies’ G.fast which can boost data speeds up to 600-700 megabits per second (Mbps) over existing copper lines.

Furthermore, PLDT has been transforming the entire cities into a Fibr-powered PLDT SmartCity with ultra-fast internet, starting with Toledo City in Cebu and followed by General Santos City in Mindanao and Naga City in Bicol.

The PLDT Group has invested over PHP300 billion or USD 6 billion over the last 10 years in building its integrated fixed and wireless network, which includes the country’s most extensive fiber transmission and distribution infrastructure which now has 150,000 kilometers of fiber optic cables that support the growing data traffic of its fixed line and mobile networks.

Pangilinan has earlier stated that PLDT will focus on strengthening its fixed services for Home and Enterprise units due to its continuing growth.

PLDT’s Home and Enterprise business units set the pace for its revenue growth as it posted double digit revenue increases year on year. Home service revenues reached Php 7.8 billion, up by 12 percent while Enterprise service revenues increased to Php 8.5 billion, climbing 13 percent from the first quarter of 2016.

PLDT Inc. will spend PHP46 billion this year for its capital expenditures higher from last year’s Php 42.8 billion to further grow its Home and Enterprise business units.