PLDT Inc. reported Gross Service Revenues of ₱161.2 billion for the first nine (9) months of 2026, up 2% year on year. Net Service Revenues, net of interconnect costs, grew 1% to ₱146.9 billion and 2% excluding legacy services.
Enterprise leads revenue growth, while Wireless Consumer returned to growth in the third quarter. Data and broadband reached ₱126.5 billion, accounting for 86% of Net Service Revenues versus 85% last year.
Despite inflationary pressures, PLDT limited the increase in cash operating expenses, subsidies and provisions to 1%.
Revenue growth and cost discipline lifted consolidated EBITDA by 1% to ₱83.2 billion, EBITDA margin held steady at 52%.Higher EBITDA and a 2% year-on-year decline in net financing costs helped cushion the impact of higher depreciation. Telco core income was ₱23.5 billion. A higher contribution from Maya and gains from asset sales supported consolidated core income of ₱24.4billion, down 4% year on year. Reported net income was ₱21.7 billion.
Capital expenditure was lower by 15% to ₱36.6 billion from ₱43.0 billion a year earlier. Capex intensity declined to 23% from 27%, and free cash flow remained positive for the period.
Consolidated Net Debt declined to ₱285.6 billion at end-September from ₱287.3 billion at end-June, while Net Debt-to-EBITDA registered at 2.6x. Gross Debt stood at ₱300.2 billion, 53% maturing after 2031. U.S. dollar-denominated debt accounted for 14% of Gross Debt, while unhedged debt represented 6% of total debt. PLDT also continued to actively manage its funding costs, working with bank partners to negotiate more favorable spreads and tenors on benchmark-linked borrowings, helping keep net financing costs steady quarter-on-quarter. PLDT remains investment grade, rated Baa2 by Moody’s and BBB by S&P Global.
“We managed to grow revenues in a tough market, a tougher environment. We obviouslyhave 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,” said Manuel V. Pangilinan, PLDT and Smart Chairman and CEO.
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