PLDT Inc. saw net income drop nine percent to P16.4 billion in the first half, from P18.1 billion a year earlier, on higher depreciation and amortization costs and softer telco operating results.
In a disclosure on Thursday, PLDT said core income also slipped, by 1.70 percent to P17.3 billion, but added that it remained optimistic the second half would produce better results.
PLDT said Maya’s sustained profitability helped offset higher depreciation and amortization costs and softer telco results. Telco core income slipped two percent to P16.6 billion in the first half from P17.2 billion previously.
Capital expenditure (Capex) in the period declined 24.45 percent to P20.7 billion from P27.4 billion in the same period last year.
“Growth remains measured, but we are optimistic that the second half of the year will be better, as we build on our momentum and focus on executing with discipline,” said Manuel Pangilinan, PLDT and Smart chairman and CEO.
Consolidated gross service revenues rose two percent to P108.7 billion in the first half while net service revenues (net of interconnect costs) grew one percent to P97.8 billion.
PLDT said growth in data and broadband helped offset declines in legacy services, supporting earnings and margins. Data and broadband revenues totaled P84.0 billion, up from P82.2 billion last year, and accounted for 86 percent of net service revenues versus 85 percent last year.
Excluding drag from legacy services, net service revenues grew by two percent.
Earnings before interest, taxes, depreciation and amortization rose one percent to P56.05 billion from P55.5 billion, resulting in a steady margin of 52 percent.
PLDT’s wireless consumer business generated P42.1 billion in revenues, backed by sustained growth in data and fixed wireless access coupled with efforts to strengthen customer monetization.
Wireless consumer data revenues, including fixed wireless access or FWA, rose two percent to P38.7 billion and accounted for 92 percent of segment revenues.
Mobile data revenues reached P37.7 billion, while FWA revenues rose 21 percent, supported by higher customer activity and demand for flexible home connectivity.
PLDT Home’s total revenue reached P30.0 billion, down slightly from P30.4 billion last year, backed by a fiber subscriber base of 3.9 million as of end-June 2026.
Meanwhile, the enterprise segment grew five percent in the first half to P24.8 billion, supported by strong enterprise ICT and wireless performance, growth across key customer segments, and rising demand for international connectivity.
Leading digital financial services platform Maya continued to scale its ecosystem. PLDT said that as of end June 2026, its deposit balances had reached P86 billion, up 71 percent, while loans outstanding had risen to P39 billion, up 56 percent year on year.
PLDT shares on Thursday rose P5.00, or 0.41 percent, to close at P1,225.00 each.
