PLDT fiber network drove 1Q service revenue growth
PLDT Inc. (PLDT)'s expansive fiber network drove the telco's record high revenue growth for the first quarter of 2022, according to Senior Vice President and Head of Consumer Business – Home, Jeremiah de la Cruz.
PLDT Home’s first quarter fiber-only service revenues grew 74 percent by ₱4.7 billion, to a record high of ₱11.1 billion.
Including other businesses, total Home service revenues increased 25 percent by ₱2.7 billion to an all-time high ₱13.6 billion.
Fiber-only revenues now account for 82 percent of total Home revenues, up from 59 percent from a year ago.
“The pandemic has ushered in the digital transformation of our ways of working and living," he noted.
"Although restrictions have eased, many employees and students still work and study at home, whether full-time or in a hybrid setup. We see that home broadband remains essential to our consumers’ lifestyle as we continue to navigate the next normal with fiber being preferred due to the speed and superior data experience it offers,” the SVP explained.
Notably, PLDT Home became the first fiber provider in the upland municipality of Bontoc, Mountain Province,
As the center of trade, commerce, and education in Mountain Province, Bontoc is key to the province’s development and economic growth.
The fiber rollout in Mountain Province is part of PLDT’s long-term commitment to reach the farthest areas and connect every household in the country through its fastest and widest fiber internet.
Now powering 16 barangays in Bontoc, PLDT Home enables residents with digital tools to enable work, business, or learning from home.
Late last year, PLDT Home launched the country’s first-ever 10,000 Mbps fiber-optic service in the Philippines, putting the country alongside first-world nations that have access to ultra-fast home internet speeds, such as South Korea, Japan, Sweden, Norway, Italy, New Zealand, and USA.
To date, PLDT Home has connected over 3.1 million fixed broadband homes – of which 2.6 million are fiber subscribers.
This year, PLDT has earmarked P85 billion to further expand its network consisting of 803,000 kilometers of fiber infrastructure and 6.25 million fiber-powered ports.
“With our customers as our north star, PLDT Home’s future-ready innovations, including top-of-the-line Smart Home solutions such as Wifi Mesh devices, entertainment, and security services bundled with flexible broadband plans, continue to set the bar for home internet connectivity in the country,” de la Cruz concluded.