PLDT Q1 net income up 2% on data, internet businesses

Giant telecommunications firm Philippine Long Distance Telephone Co. (PLDT) posted P9.4 billion in unaudited net income for the first quarter of 2014, up 2 percent from P9.2 billion a year earlier on the back of strong growth in its data and internet businesses.

The company said consolidated core income amounted to P9.8 billion, up 2 percent from the P9.6 billion recorded in the same period last year, due mainly to higher service revenues and equity share in earnings of subsidiaries, and lower financing costs.