Philippine Telephone Net Drops 33% on Rocket Internet Loss

Updated on
  • Dividend payout target cut to 60% of core income from 75%
  • PLDT shares plunge 8.2%, biggest drop since February 29

Philippine Long Distance Telephone Co. profit fell 33 percent in the second quarter as the nation’s largest phone carrier booked charges for its investment in Germany-based Rocket Internet SE. The shares plunged the most in five months.

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