Philippine Long Distance Telephone Company

The Philippine Long Distance Telephone Company (Filipino: Kompanya ng Teleponong Pangmalayuan ng Pilipinas;PSE: TEL, NYSE: PHI), commonly known as PLDT, is the largest telecommunications company in the Philippines. The latest service revenues reported for the first quarter ended May 2015 is at ₱40.5 billion, and net income at ₱9.4 billion, equivalent to 1Q14.

History

PLDT was established on November 28, 1928, by the Philippine Government act. Philippine legislature and approved by then Governor-General Henry L. Stimson by means of a merger of four telephone companies under operation of the American telephone company GTE. Known as Act 3436, the bill granted PLDT a 50-year charter and the right to establish a Philippine telephone network linking major points nationwide. However, PLDT had to meet a 40-day deadline to start implementing the network, which would be implemented over a period of one to four years.

By the 1930s, PLDT had an expansive fixed-line network and for the first time linked the Philippines to the outside world via radiotelephone services, connecting the Philippines to the United States and other parts of the world.