PLDT Reports 8% Decline in Nine-Month Profit Amid Rising Costs

PLDT Inc. has disclosed an 8% decrease in its attributable net income for the first nine months of 2026, amounting to ₱21.67 billion (approximately $385 million), down from ₱23.65 billion ($420 million) in the same period last year. This decline has been primarily attributed to increased operational costs, particularly in depreciation and maintenance, as well as rising electricity expenses, according to the company’s Chief Financial Adviser, Stanley Yang.

In the third quarter alone, PLDT's net income fell 15.4% to ₱5.23 billion ($93 million) from ₱6.18 billion ($110 million) a year earlier. Despite these challenges, the company reported a slight growth in consolidated revenues, which rose by 1.8% to ₱166.21 billion ($2.95 billion) for the nine-month period, driven by a 2% increase in gross service revenues to ₱161.2 billion ($2.88 billion).

PLDT's consolidated core income, which includes the contribution from Maya, declined 4.5% to ₱24.43 billion from ₱25.58 billion the previous year, while its telco core income, which excludes certain nonrecurring items and the impact of Maya Innovations Holdings, fell 6% to ₱23.5 billion. Stanley Yang said the telco core income was down about 6% and that the full-year earnings would likely remain below last year’s level.

“Stanley Yang said the telco core income was down about 6% and that the full-year earnings would likely remain below last year’s level.”Stanley Yang, Chief Financial Adviser

The company’s capital expenditures were reduced by 15% to ₱36.6 billion ($650 million) compared to ₱43 billion ($770 million) in the previous year, as part of a strategy to manage costs amid a challenging economic landscape. Despite these reductions, PLDT maintained a steady earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 52%, with EBITDA rising by 1% to ₱83.22 billion ($1.49 billion).

In terms of revenue streams, PLDT's consumer wireless segment reported a modest 1% increase in revenues to ₱63.5 billion ($1.13 billion), while the home broadband segment generated ₱44.8 billion ($800 million). The enterprise business also showed resilience, with revenues rising 4% to ₱37.2 billion ($660 million), supported by increased usage of wireless services and data center operations.

“Manuel Pangilinan said the company has invested in its network, technology, and people and now needs to turn those investments into better service for customers and stronger business growth.”Manuel Pangilinan, Chairman and CEO

Additionally, PLDT's digital financial services platform, Maya, continues to perform well, with deposits increasing by 68% year-on-year to ₱95 billion ($1.69 billion) and outstanding loans expanding by 58% to ₱34 billion ($600 million). The platform's gross nonperforming loan ratio improved to 4.9% from 6.1% at the end of 2025.

Looking ahead, PLDT's Chairman and CEO, Manuel Pangilinan, emphasized the need to translate investments into improved customer service and business growth. He said the company has invested in its network, technology, and people and now needs to turn those investments into better service for customers and stronger business growth.

December, traditionally one of PLDT’s strongest months, could provide some relief, although the company still expects weaker full-year earnings.