MANILA, Nov 6 (Reuters) - Philippine Long Distance Telephone Co (PLDT), the country’s most valuable listed company, posted a 1 percent slide in quarterly profit as an intense competition and the popularity of social media networking hurt its mobile phone business.
PLDT, part-owned by Hong Kong’s First Pacific Co Ltd , Japan’s NTT Communications and NTT DoCoMo , said its net income in July to September was 9.2 billion pesos ($223 million) compared with 9.3 billion pesos a year earlier.
Core net profit, which excludes currency and derivatives-related items, fell 2 percent to nearly 9.4 billion pesos.
PLDT said it was maintaining its core net profit guidance of 37 billion pesos for the full year.
$1 = 41.2500 Philippine pesos Reporting by Erik dela Cruz; Editing by Rosemarie Francisco