PLDT Inc. posted a modest earnings increase in the first quarter of 2026 and signaled disciplined spending for the year, as strong demand for data, broadband, and enterprise digital services offset lingering weakness in legacy businesses.
The telco giant said core income rose 2 percent to P9.1 billion in the January-to-March period, supported by contributions from fintech arm Maya and gains from asset sales. Reported net income stood at P8.9 billion. PLDT expects capital expenditures for 2026 to settle in the mid-P50 billion range as it prioritizes network quality while sustaining positive free cash flow and a 60 percent dividend payout.
Gross service revenues climbed 3 percent to P54.9 billion, while net service revenues were steady at P48.9 billion. Data and broadband revenues reached P41.9 billion, accounting for 86 percent of total net service revenues.
Capital spending in the first quarter fell to P10 billion from P10.8 billion a year earlier, reflecting tighter investment discipline. PLDT said spending remained focused on expanding fiber and wireless infrastructure, improving service reliability, and supporting growth areas such as enterprise ICT, 5G, and hyperscale data centers.
“We are moving in the right direction,” said Manuel V. Pangilinan, chairman and chief executive officer of PLDT and Smart. “The fundamentals are sound, and the momentum is there, but our team is capable of more. We expect more of ourselves, and we intend to deliver,” he added.
Wireless consumer revenues stood at P21 billion, with mobile data and fixed wireless access continuing to drive growth. Fixed wireless revenues surged 18 percent as PLDT accelerated migration toward 5G-enabled services.
The enterprise segment posted a 4 percent increase in revenues to P12.4 billion, led by strong demand for cloud, managed IT, and data analytics services. ICT revenues alone jumped 17 percent.
PLDT’s balance sheet also improved, with net debt-to-EBITDA easing to 2.53x from 2.56x at end-2025. Total deposits at Maya reached P76 billion, while its loan book expanded to P33 billion, reinforcing the growing contribution of digital financial services to the group’s earnings mix.
