PLDT Inc.’s attributable net income fell 8 percent to P21.67 billion in the first nine months this year from P23.65 billion in 2025, as higher costs weighed on earnings despite growth in service revenues.
PLDT chief financial adviser Stanley Yang said on Thursday that the decline was more pronounced in the third quarter (Q3), when depreciation increased and operating expenses rose 5 percent, driven by repairs and maintenance, network costs and electricity.
Consolidated core income slid 4 percent to P24.43 billion, while telco core income declined 6 percent to P23.5 billion. Capital spending dropped 15 percent to P36.6 billion from P43 billion a year earlier.
Gross service revenues climbed 2 percent to P161.2 billion, while net service revenues inched up 1 percent to P146.9 billion, or 2 percent excluding legacy services. Data and broadband generated P126.5 billion, accounting for 86 percent of net service revenues, up from 85 percent a year earlier.
Consolidated earnings before interest, taxes, depreciation and amortization crept up by 1 percent to P83.2 billion, with the margin steady at 52 percent.
“We’ve invested in our network, our technology and our people. Now we need to turn those investments into better service for our customers and stronger growth for the business,” said PLDT and Smart Chairman and CEO Manuel Pangilinan.
Consumer wireless data revenues also increased by 1 percent to P63.5 billion in the nine months. Mobile data and fixed wireless access accounted for P58.7 billion, up 3 percent.
After a broadly flat first half, the consumer wireless segment returned to growth in Q3, with revenues rising 3 percent year on year to P21.5 billion.
PLDT Home posted P44.8 billion in revenues and ended September with 3.8 million fiber subscribers across its postpaid and prepaid services.
Enterprise revenues rose 4 percent to P37.2 billion, driven by higher wireless usage, new international connections and growth in data center services. Excluding legacy services, enterprise net service revenues climbed 8 percent to P31.2 billion.
Digital financial services platform Maya remained profitable in Q3. At the end of September, deposits were up 68 percent year on year to P95 billion, while outstanding loans expanded 58 percent to P34 billion. Its gross nonperforming loan ratio fell 4.9 percent from 6.1 percent at the end of 2025.
