Philippine companies beat 2022 consensus revenue estimates by the widest gap in at least nine years. Profit, however, lagged behind projections, as high interest rates and inflation hurt margins.
Sales topped consensus by an average 5.2% for 24 companies in the 30-member Philippine Stock Exchange Index. That’s a record based on data going back to 2014. Net income trailed by 2.2%, the most in two years and a reversal from the highest ever beat of 7% in 2021.
Source : Philippine Corporate Earnings Hit Record High, But Inflation Presents Challenges