Summary by Futu AI
First Pacific Limited (“First Peace”) announced on 9 May 2024 its principal operating joint venture PLDT Inc. (“PLDT”) unaudited consolidated financial results for the 3 months ended 31 March 2024. PLDT's service revenue increased from 49,726 million pesos in 2023 to 52,195 million pesos in 2024, and non-service revenue decreased from 2,636 million pesos to 2,029 million pesos. Total revenue reached 54,224 million pesos, an increase of approximately 3.6% over the same period last year. Total operating expenses decreased from 39,698 million pesos to 38,621 million pesos, and pre-tax income from continuing operations increased from 12,222 million pesos to 13,192 million pesos. Net income increased from Ps9,049 million to Ps.9,893 million, and PLDT ordinary equity holders accounted for earnings per share from P$41.66 million to P$45.40. PLDT's financial statements have been prepared in accordance with the requirements of the Philippine Financial and Sustainability Reporting Guidelines Commission and have been filed with the Philippine Stock Exchange and the New York Stock Exchange and published simultaneously on the First Pacific and HKEX websites. First Pacific and its Philippine affiliate hold an economic interest of approximately 25.6% in PLDT.
