The Philippine Stock Exchange (PSE) Q2 2024 earnings summary

Executive summary

• H1 2024 revenue fell 2.34% YoY to ₱722.75m and net income fell 4.67% to ₱398.02m; higher expenses outweighed stronger other income.

• Q2 revenue was ₱369.40m vs ₱357.80m YoY, while net income was ₱155.64m vs ₱214.35m, reflecting a sharp swing in mark-to-market results.

Financial highlights

• H1 operating income was ₱306.61m vs ₱359.59m; cost and expenses rose 9.36% YoY to ₱416.13m.

• H1 other income, net, increased 20.01% to ₱161.98m, including a ₱20.85m foreign-exchange translation gain vs a ₱3.26m loss in 2023.

• H1 net income attributable to parent equity holders was ₱398.53m; basic and diluted EPS were ₱4.87 vs ₱5.13 YoY.

• Q2 mark-to-market loss on FVTPL assets was ₱59.16m vs a ₱2.78m gain a year earlier; Q2 income before tax declined to ₱170.07m from ₱245.83m.

Segment performance

• One reportable segment, the domestic equity securities market, provides trading, clearing, depository and information services.

• H1 listing-related fees were ₱290.98m, trading-related fees ₱230.65m, service fees ₱134.66m and other revenue ₱66.45m.

• Listing-related revenue edged up 0.23%; trading-related fees increased ₱29.76m, led by market data and subscription revenue, while service fees fell 10.74%.