The Philippine Long Distance Telephone Company, 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.HistoryPLDT 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.Telephone service in the Philippines was interrupted due to World War II. At the end of the war, the Philippines' communications infrastructure was in ruins. U.S. military authorities eventually handed over the remains of the communications infrastructure to PLDT in 1947, and with the help of massive U.S. aid to the Philippines during the 1940s and 1950s, PLDT recovered so quickly that its telephone subscribers outpaced that of pre-war levels by 1953.