Sunday, April 2, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business IT & Telecom

PT&T expects stronger growth this year

Darwin G. AmojelarbyDarwin G. Amojelar
August 16, 2021, 12:09 am
in IT & Telecom
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

Diversified telecommunications company PT&T Corp. said it expects to post a stronger growth this year amid the COVID-19 pandemic.

“We’re confident that in this time of pandemic, telco and IT services sector will thrive, as demand remains strong and is steadily growing. This sector will also be essential to our country’s economic recovery as it provides invaluable help to SMEs and MSMEs that need to restart their businesses,” said PT&T president and chief executive James Velasquez.

PT&T said revenue grew 7 percent in the first six months to P221.11 million from P206.98 million in the same period last year.

The company attributed the growth to the 15-percent increase in subscriber and the 8-percent revenue contribution from IT services portfolio.

Velasquez, a former head of IBM Philippines, said positive catalysts would provide an upside to PT&T’s overall 2021 performance such as the 12-percent economic expansion in the second quarter, a bolstered vaccination program by the government, an expected surge in spending from the 2022 election campaigns and the start of the holiday season.

ADVERTISEMENT

He said the impact of this month’s re-imposition of the lockdown measure against the Delta variant would be minimal, and the company would be ready with measures if the threat of the Delta variant or more lockdowns would persist.

Another Enhanced Community Quarantine was implemented in the National Capital Region from Aug. 6 to Aug. 20.

PT&T posted a net loss of P26.57 million in the first half, higher than P19.5-million loss it registered in the same period last year after the booking of depreciation for capital expenditure and other rehabilitation-related items.  

Core operating expenses grew 11 percent to enable the company to adapt to the new normal, while investing in operations to support the growing business.

PT&T’s board last month approved an increase in the company’s authorized capital stock, not exceeding P11.8 billion from the current P3.8 billion. This is in anticipation of the expansion and development of its business and compliance with the debt-to-equity conversion mandated under the rehabilitation plan.

PT&T has a network reach of 22,800 fiber kilometers in high-growth areas, covering almost 40 percent of the Philippine population.

The company forayed into the IT services space in 2019, offering accessible, enterprise-grade solutions to complement its connectivity portfolio.

PT&T holds a 25-year franchise which allows the company to establish, maintain and operate both wired and wireless telecommunications systems for domestic and international communication in the country.

Tags: growthJames VelasquezPT&T Corp.rehabilitation planRevenue
ADVERTISEMENT
Darwin G. Amojelar

Darwin G. Amojelar

Related Posts

PLDT eyes investors in data center unit

byDarwin G. Amojelar
March 26, 2023, 6:45 pm
0
8
Luck of draw could send PH to Tokyo Olympics

PLDT Inc. said over the weekend it held exploratory talks with financial advisers to bring in potential investors in its...

Read more

Globe ramping up broadband rollout in 2023

byDarwin G. Amojelar
March 26, 2023, 6:00 pm
0
8
How to throw a hybrid holiday party

By Darwin G. Amojelar Globe, the country's leading digital solutions platform, said it is ramping up the rollout of its...

Read more

PLDT’s income declined 60% to P10.48b in 2022

byDarwin G. Amojelar
March 23, 2023, 7:10 pm
0
8
PLDT urges internet service providers to clean cyberspace

PLDT Inc. said Thursday net income declined by 60 percent in 2022 mostly because of accelerated network and technology upgrades....

Read more

Fitch unit sees no major hurdles to Sky-PLDT deal

byDarwin G. Amojelar
March 21, 2023, 7:55 pm
0
8
Fitch unit sees no major hurdles to Sky-PLDT deal

CreditSights, a unit of Fitch Group, said Tuesday it foresees no “major regulatory hurdles” to the P6.75-billion acquisition of Sky...

Read more

Globe expects revenues to sustain growth

byDarwin G. Amojelar
March 20, 2023, 7:10 pm
0
8
How to throw a hybrid holiday party

Globe said Monday it expects a mid-single digit growth in service revenues this year despite the macroeconomic headwinds. “We have...

Read more

ABS-CBN ventures into NFT business

byDarwin G. Amojelar
March 20, 2023, 6:55 pm
0
8
ABS-CBN files $40 million in lawsuit in Florida

By Darwin G. Amojelar ABS-CBN Corp. ventured into digital collectibles NFT (non-fungible token) business through a partnership with Theta Labs,...

Read more

Print Edition

View More

Recent Posts

  • Meralco unit eyes cross-border power project in Indonesia, Singapore
  • ERC asks power distributors to comply with DOE guidelines on supply deals
  • DTI reports decline in consumer complaints
  • PepsiCo expands greenhouse accelerator program to APAC
  • Cebuana Lhuillier partners with Advance to press on with financial inclusion mission
  • Couple realizes passion for quality, affordable education with Woodlands International Homeschool
  • Sneakers for Makati : AB4.0
  • PH to meet EU standards on seafarers

Advertisement

Latest News

Couple realizes passion for quality, affordable education with Woodlands International Homeschool

byManila Standard
April 2, 2023, 2:55 pm
0
8
Couple realizes passion for quality, affordable education with Woodlands International Homeschool

As a parent, you constantly worry about your child. You worry about your child's safety. even at school.  Then, homeschooling...

Read more

Sneakers for Makati : AB4.0

byManila Standard
April 2, 2023, 1:50 am
0
288
Sneakers for Makati : AB4.0

Read more

PH to meet EU standards on seafarers

byMaricel Cruz
April 2, 2023, 1:40 am
0
8
Ople expects OFW remittances to post a sharp increase in Q1

Ople: Monumental crisis averted, 50,000 jobs saved After getting an extension of the Philippines’ maritime education, the administration of President...

Read more

NAIA passenger surge to hit 1.2m during long Holy Week holiday

byJoel E. Zurbano
April 2, 2023, 1:30 am
0
8
Turtle Islands to get P25-m town hall

Airport officials are expecting passenger traffic to reach 140,000 daily at the country’s premier gateway beginning this weekend until the...

Read more

Teves not returning home until wish list is met—lawyer

byMaricel Cruz
April 2, 2023, 1:20 am
0
8
Turtle Islands to get P25-m town hall

Suspended Negros Oriental 3rd District Rep. Arnolfo Teves Jr. is not returning home yet despite appeals from President Ferdinand Marcos...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App