PLDT (NYSE:PHI) Inc., a leading telecommunications provider, has announced its subscription to additional shares in Kayana Solutions Inc., as disclosed in a recent filing with the Securities and Exchange Commission (SEC). The disclosure, filed on Wednesday, indicates PLDT's continued investment in the tech solutions company.
In other recent news, PLDT Inc. has reported a steady financial growth in the first half of 2024. The company's consolidated service revenues saw a 3% rise to ₱96.9 billion compared to the previous year, and a similar 3% increase in consolidated EBITDA, which stood at ₱53.9 billion. The Individual and Enterprise segments demonstrated revenue growth, mainly due to mobile data and corporate data services.
Moreover, PLDT Inc. has subscribed to additional shares in digital services provider DigiCo, as part of its ongoing efforts to expand its digital infrastructure and offerings. This strategic investment is expected to enhance PLDT's portfolio of digital services and potentially open new revenue streams.
PLDT's fintech arm, Maya Bank, has achieved positive cash flow and is experiencing customer and financial growth. The company is also in discussions with potential investors for its data center business. PLDT's future plans include a focus on expanding its 5G network and expecting mid-single-digit top line growth for 2024.
InvestingPro Insights
PLDT Inc.'s recent investment in Kayana Solutions aligns with its strong market position and financial health. According to InvestingPro data, PLDT boasts a market capitalization of $5.91 billion and impressive gross profit margins of 73.27% for the last twelve months as of Q2 2024. This financial strength supports the company's ability to make strategic investments like the one in Kayana Solutions.
InvestingPro Tips highlight PLDT's attractive valuation, trading at a low P/E ratio of 12.5 relative to its near-term earnings growth. This suggests that the market may be undervaluing PLDT's growth potential, including its recent expansion moves. Additionally, PLDT pays a significant dividend to shareholders, with a current dividend yield of 4.74%, making it an attractive option for income-focused investors.
For those interested in a deeper analysis, InvestingPro offers 11 additional tips on PLDT, providing a comprehensive view of the company's financial health and market position.
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