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Article: Philippines: PLDT beats market forecasts as 3Q09 net income climbs 49%.(Financial report)
- Article from:
- TendersInfo
- Article date:
- November 5, 2009
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Byline: pinto03
Philippine Long Distance Telephone Company (PLDT) has reported a 49% year-on-year rise in net income for the three months to 30 September 2009, aided by earnings from its investment in local broadcasting firm and power group Manila Electric (Meralco).
The operator confirmed its core earnings guidance for 2009 of PHP41 billion (USD861 million) up 8% from 2008 despite maintaining a cautious outlook on consumer spending following a spate of typhoons that hit the main island of Luzon recently. However, it has trimmed its full-year revenue guidance by 1% to PHP146 billion. While we anticipate the usual boost in the fourth quarter from holiday ...