PANGILINAN-LED Philippine Long Distance Telephone Co. said Monday its net income in the third quarter dropped by 49 percent from a year ago to P3.4 billion as it continued to invest on a pivot to digital services. Net income for the first nine months fell 37 percent to P16 billion, while consolidated revenues slipped 2 percent to P125.4 billion. Excluding international and national long distance (ILD and NLD), and interconnection costs, consolidated service revenues totaled P101 billion, flat from last year. Excluding international/national long distance (ILD and NLD) and interconnection costs, consolidated service revenues totaled P101 billion, steady from the corresponding period last year. This has raised its share of total service revenues to 40 percent from 33 percent a year ago.

Source: Manila Times November 14, 2016 16:37 UTC