However, consolidated reported net income went lower at P10.7 billion, from the P11.4 billion recorded in the same period last year due to lower net foreign exchange and derivative gains.
Overall consolidated service revenues decreased by 4% to P34.6 billion, reflecting the combined effects of an 8% increase in combined fixed and wireless broadband and Internet revenues, with DSL revenues higher by 12% and wireless broadband revenues up by 5% (including revenues from mobile Internet) Wireless service revenues dipped 4% to P22.8 billion for the first quarter of 2011, versus P23.7 billion in the same period last year.
Excluding the impact of the peso appreciation, wireless service revenues for the first three months of 2011 would have been higher by P300 million. However, PLDT’s subsidiary Smart Communications, Inc. (Smart) continues to lead the industry in terms of both revenues and subscribers.
The PLDT Group’s total cellular subscriber base as of end March, 2011 stood at 46.6 million subscribers, 2% or 1 million up from the end of 2010. Smart Buddy recorded net additions of 0.5million subscribers to end with 25.7 million subscribers while Talk ‘N Text added approximately 0.4 million subscribers to end with 19.4 million subscribers.
Red Mobile, the brand owned by Smart subsidiary, CURE, had about 1.1 million subscribers, having added 0.1 million new subscribers. Red Mobile was relaunched in March 2010 and positioned to meet market demand for unlimited services, particularly for ‘second SIM’ holders.
Cellular voice revenues declined 5% to P10 billion, resulting from lower revenues from international services and domestic outbound call volumes. Cellular data revenues fell 2% to P10.3 billion, with text volumes declining 4%.
