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PLDT: Q1 Earnings Snapshot


PLDT: Q1 Earnings Snapshot
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MAKATI, Philippines (AP) Philippine Long Distance Telephone Co. (PHI) on Thursday reported first-quarter net income of $120.1 million.
The Makati, Philippines-based company said it had net income of 56 cents per share. Earnings, adjusted for non-recurring costs, were 70 cents per share.
The telecommunications company posted revenue of $992 million in the period.
PLDT shares have decreased almost 5% since the beginning of the year. The stock has climbed 7% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PHI at https://www.zacks.com/ap/PHI ....

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Meralco core income down by 11%


Published April 27, 2021, 7:00 AM
The consolidated core net income of power utility giant Manila Electric Company (Meralco) was still lower by 11-percent to P5.11 billion in the first quarter versus a heftier profitability of P5.724 billion in the same period last year pulled down by lower energy sales.
Nevertheless, the power firm’s income posted a significant climb of 66 percent to P4.3 billion in the first three months of this year as against a leaner P2.6 billion last year.
The company emphasized that its sales dropped by 4.0 percent last year to 10,473 gigawatt hours (GWh); given the continued slump logged in the commercial sector; although that is being offset by strong consumption of the residential segment and the apparent revival of business activities in the industrial sector. ....

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Kudos to Gatchalian, boos to Salim – The Manila Times


I SALUTE Valenzuela City Mayor Rex Gatchalian for doing his job and demonstrating what political will can do.
With traffic at the North Luzon Expressway (NLEx) in the first week of December creating a hell-on-earth for more than half a million Filipinos, he cleverly did what he could do within his jurisdiction. He suspended the business license of NLEX Corp. to operate in Valenzuela City, where it has seven toll stations.
With that kind of leadership ability, Gatchalian, just 41 years old, could or should be president someday.
No permit, no authority to collect tolls: it became a freeway, clearing like a miracle the traffic there which at its worst had led to congestion even in Valenzuela City’s inner roads. This is what state power should be doing, responding swiftly to alleviate its citizens’ suffering. ....

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