Smart revenues hit P14.8B in 1st quarter

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SMART Communications, Inc. posted higher service revenues this quarter, driven by its mobile data business.

The wireless subsidiary of PLDT, Inc. said in a statement that it recorded P14.8 billion in service revenues for the first quarter of the year, up 2% from a year ago.

Wireless individual data revenues rose by 21% to P6.5 billion against last year. Smart said that data revenues currently account for 44% of its revenues.

PLDT’s mobile business improved in the first quarter of 2018, after eight consecutive quarters of decline. During the first quarter last year, the business of Smart, Sun, and TNT posted an 18% decline.

“The contribution from data and digital to our total business continues to grow steadily. We will accelerate this further as we transform our networks into powerful platforms for delivering digital services and solutions. This will enable us to more effectively pursue our goal of becoming the preferred digital partner of our customers,” PLDT and Smart Executive Vice-President and Chief Revenue Officer Ernesto R. Alberto said in a statement.

Mr. Alberto said during the press conference on PLDT results on May 10 that the performance of the wireless business in the first quarter is “a new base” from which the company can grow.

In the first three months of the year, Smart said it has installed 1,300 more long-term evolution (LTE) base stations across the country, which brings the total count to over 10,000. Smart aims to double the number of LTE base stations to about 17,700 and increase the number of LTE-equipped cell sites to over 6,800.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — PPCM