Telecom giant PLDT Inc. reported an 8 percent year-on-year decline in net income for the first quarter of 2025, as a softer market environment weighed on overall profitability. The company posted a net income of ₱9.02 billion for the January–March period, down from ₱9.82 billion in the same quarter last year.
Core telco income—excluding asset sales and profits from fintech affiliate Maya Innovations Holdings—fell 6 percent to ₱8.8 billion. However, PLDT’s overall core income held firm at ₱8.9 billion, buoyed by Maya’s continued positive contribution.
“We’re navigating a softer market environment, but our fundamentals are intact,” said PLDT and Smart chairman and CEO Manuel V. Pangilinan. “Broadband and fiber continue to anchor the business, while digital finance is emerging as a strong new driver.”
Gross service revenue rose 2 percent year-on-year to ₱53.4 billion, underscoring resilience across segments. Fiber-only revenue under PLDT Home grew 7 percent to ₱14.7 billion, while Enterprise posted ₱11.9 billion in service revenues. Revenue from corporate data and ICT reached ₱8.8 billion.
The Individual Wireless segment generated ₱21.3 billion in revenue, maintaining a solid base of 58.61 million mobile subscribers via Smart and TNT despite fierce competition.
The company reaffirmed its full-year core income guidance of ₱68–70 billion. First-quarter capital expenditure dropped significantly to ₱6.3 billion, down from ₱11.3 billion last year, signaling a more disciplined investment approach.
PLDT’s vast infrastructure remains a key advantage, with its fiber network spanning 1.2 million cable kilometers and reaching 18.76 million homes across 91 percent of Philippine provinces. Smart’s 5G/4G network now covers 97 percent of the national population.
As PLDT adapts to market headwinds, its strategic push into digital services and its robust infrastructure footprint continue to position the company as a market leader in both telecom and emerging fintech sectors.
