“In a year of market pressures and economic slowdown, we’ve managed to stand firm. The challenge now is to stand taller — to deliver growth that reflects not only effort, but excellence,” said Manuel V. Pangilinan, PLDT and Smart chair and CEO.
Headline financials
• Gross service revenues rose 3 percent to P158.9 billion.
• Consolidated service revenues inched up 1 percent to P145.9 billion amid slower growth in a mature telecom market.
• Telco core income dropped 5 percent to P25.3 billion due to continued declines in legacy services.
• Consolidated ebitda increased 3 percent to P82.8 billion, with margins steady at 52 percent.
Maya sustains turnaround for 3 quarters
Maya helped balance the sluggish growth, delivering P1.6 billion in core income — its third straight profitable quarter and a P4 billion turnaround from a year earlier.
The digital bank-focused fintech also sustained strong momentum in the third quarter, posting P532 million in net income as deposits surged 59 percent to P57 billion.
Maya continued to expand its digital banking ecosystem, growing its customer base to 9 million and borrower base to 2.4 million. It finished the period with a gross bad loan ratio of 6.3 percent.
Home fiber gains ground
PLDT Home continued to be the company’s strongest growth driver, with revenues rising 7 percent to P44.5 billion in the first nine months of 2025.
This was fueled by steady subscriber additions, improved installation capacity, and bundled streaming plans that kept average revenue per user high, with fiber now accounting for 97 percent of total home revenues.
PLDT Enterprise earned P35.6 billion during this period, driven by ICT growth and new digital infrastructure projects.
PLDT turns cash positive ahead of schedule
PLDT also achieved positive free cash flow ahead of its 2026 target, signaling that years of high investment are beginning to pay off.
The improved cash position gives the company more flexibility to fund its business, even as it cut capital expenditures to P43 billion from P52.3 billion during the first nine months of the year.
Modest mobile business gains
PLDT’s wireless consumer segment Smart posted P63.2 billion in revenues in the first nine months of 2025, up nearly 2 percent year-on-year.
Mobile data, including fixed wireless access, rose 1 percent to P57.3 billion, with 5G devices up 39 percent.
Smart succession in focus
Last month, PLDT and Smart chief operations officer Anastacio “Boy” R. Martirez stepped down following an internal conduct probe, with the group assuring a smooth transition in its operations.
Martirez had previously pledged to retake mobile market leadership from Globe.
As of the first nine months of 2025, Globe booked mobile revenues of P86.2 billion, down 2 percent from the previous year.
—Edited by Miguel R. Camus
