(Adds details of results)
* Q3 net 9.2 bln pesos vs 9.3 bln pesos yr ago
* Keeps 2012 core profit guidance at 37 bln pesos
* Shares lag broad market in 2012
MANILA, Nov 6 Philippine Long Distance Telephone
Co (PLDT), the country's biggest telecoms company,
posted flat quarterly profit growth as rising costs from sales
promotions offset higher service revenues.
PLDT, part-owned by Hong Kong's First Pacific Co Ltd
, Japan's NTT Communications and NTT DoCoMo,
said on Tuesday its July-September net income was 9.2 billion
pesos ($223.03 million) compared with 9.3 billion pesos a year
A market estimate for the period could not be obtained as
most analysts in the Philippines do not forecast quarterly
The country's largest firm by stock market value said growth
in broadband services will drive revenues next year as it has
completed ahead of schedule a two-year, $1.62 billion
capital-spending programme to upgrade its network and expand its
internet gateway capacity.
Core net profit, which excludes currency and
derivatives-related items, fell 2 percent to nearly 9.4 billion
pesos. The company said it was on track to meet its
full-year core profit guidance of 37 billion pesos.
Service revenues in the third quarter rose 13 percent to
41.5 billion pesos. Operating expenses rose in part due to its
acquisition of rival Digital Telecommunications in a $1.6
billion deal last year, the company said.
It said capital spending was expected to hit 38 billion
pesos this year but will drop substantially beginning next year
after its major investment programme that will triple its
internet gateway capacity and roll out a fiber optic network to
residential consumers by the end of 2013.
Shares in PLDT, which has a market value of $13.8 billion,
ended the morning session up 0.3 percent, ahead of the results.
The broader market was largely flat.
PLDT has risen about 3 pct this year, underperforming a
market that has gained more than 24 percent, among the best-
performing markets in Asia this year.
($1 = 41.2500 Philippine pesos)
(Reporting by Erik dela Cruz and Rosemarie Francisco; Editing
by Muralikumar Anantharaman)