PLDT 9-month 2026 profit falls 8% to P21.7B

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• PLDT's attributable net income declined eight percent to P21.7 billion in the first nine months of 2026, despite higher revenues
• Consolidated core income slipped four percent to P24.4 billion, while gross service revenues increased two percent to P161.2 billion
• Capital expenditure fell 15 percent to P36.6 billion as the telecommunications company maintained positive free cash flow
  
  
  
  

PLDT Inc. reported an eight percent decline in attributable net income to P21.67 billion in the first nine months of 2026 from P23.65 billion a year earlier, as higher depreciation and other expenses weighed on profitability despite revenue growth.

Consolidated core income fell four percent to P24.4 billion from P25.6 billion, while telecommunications core income declined six percent to P23.5 billion.

'Tough market, tougher environment'

Gross service revenues increased two percent to P161.2 billion, while net service revenues rose one percent to P146.9 billion.

Data and broadband contributed P126.5 billion, accounting for 86 percent of net service revenues.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) grew one percent to P83.2 billion, with the EBITDA margin unchanged at 52 percent.

Higher EBITDA and a two percent reduction in net financing costs helped cushion increased depreciation expenses.

 "We managed to grow revenues in a tough market, a tougher environment. We obviously have a lot of work ahead of us. 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," PLDT and Smart chair and CEO Manuel V. Pangilinan said in a press statement.

Manuel V. Pangilinan 

Chair and CEO, PLDT and Smart

Maya sustained profitability

PLDT Enterprise led revenue growth, with net service revenues increasing four percent to P37.2 billion.

Wireless Consumer revenues climbed one percent to P63.5 billion, supported by stronger mobile data consumption and fixed wireless services.

PLDT Home generated P44.8 billion in revenues, with fiber accounting for P43.9 billion.

Meanwhile, Maya's contribution to PLDT's core income increased 39 percent as the digital financial services platform sustained profitability.

Focus on network reliability

PLDT reduced capital expenditure to P36.6 billion from P43 billion, lowering capital expenditure intensity to 23 percent from 27 percent.

Consolidated net debt stood at P285.6 billion at end-September, down from P287.3 billion at end-June.

The company is prioritizing network reliability, customer service improvements and enterprise digital solutions to support future growth.  —Vanessa Hidalgo | Ed: Corrie S. Narisma