Service revenues rose 3 percent to P208.4 billion, driven by sustained demand for broadband and data services, which now account for 83 percent of total revenues.
Consolidated earnings before interest, taxes, depreciation, and amortization—a profit indicator—grew by 4 percent to P108.5 billion, keeping margins steady at 52 percent despite inflationary pressures.
PLDT has yet to provide earnings guidance for 2025, as it typically releases projections after first-quarter results.
Management’s view
“There are countless challenges and opportunities on the horizon—among them are AI, big data, and the transition to a completely digital-native workforce. PLDT intends not just to survive the future, but to shape it,” Pangilinan, the chair and CEO of PLDT, said in a statement.
“As the world evolves, the formula for success remains the same: to be bold, hardworking, and open to new ideas. We will continue harnessing technology to do our part in the grand task of nation-building, and to improve the lives of Filipinos,” he added.
2025 spending to go down
PLDT is projecting capital expenditures (capex) to drop to P68-73 billion from P78.2 billion in 2024.
“We aim to steadily reduce capex and capex intensity to drive positive [free cash flow],” the company noted in a presentation to investors.
Its spending relative to service revenues has been easing over the past years from 50 percent in 2022 to 38 percent in 2024.
AP Securities: PLDT beats estimate
“The strong earnings growth has beaten APS estimates but missed consensus estimates of P36.8 billion,” AP Securities research analyst Cholo Miguel Ramirez said.
“It’s notable that net income growth is underpinned by higher revenues, which remain in line with APS estimate of P210.8 billion,” he added.
Wireless, fiber growth drive expansion
PLDT’s wireless revenues via Smart grew 2 percent to P83.5 billion, with a 6 percent quarter-on-quarter surge in the fourth quarter as 5G adoption and network upgrades drove a 9 percent rise in mobile data usage.
PLDT Home’s fiber business expanded 6 percent to P56 billion, fueled by demand for high-speed internet. New offerings like Gigabit Fiber and Always On broadband reinforced its digital push.
Maya turns profitable in December
Maya Innovation Holdings posted a profit in December last year, while Maya Bank has been profitable since September 2024.
Maya Bank grew its bank customers by 71 percent to 5.4 million and nearly doubled its borrowers to 1.6 million.
Deposits surged 59 percent to P39 billion, while loan disbursements hit P92 billion, driving the group’s positive net income.
Maya also expanded its offerings, issuing over 100,000 credit cards in five months and enhancing MSME financing with new business deposit and loan services.
