PLDT Reports Decline in First Half Net Income Amid Rising Costs

PLDT Inc. reported a decline in its net income for the first half of 2026, falling 9% to ₱16.4 billion (approximately $290 million) from ₱18.1 billion ($320 million) a year earlier. This decrease is primarily attributed to increased depreciation and amortization costs, as well as softer operational results, according to a company disclosure.

In the second quarter alone, PLDT’s attributable net income dropped 14% to ₱7.58 billion ($135 million) from ₱8.81 billion ($157 million) in the same period last year. Revenue for the quarter rose modestly by 2.1% to ₱55.49 billion ($991 million), while total expenses increased by 4% to ₱42.13 billion ($754 million). The company’s service revenue also saw a slight increase, reaching ₱53.83 billion ($964 million), compared to ₱52.94 billion ($943 million) in the previous year.

“Growth remains measured, but we are optimistic that the second half of the year will be better, as we build on our momentum and focus on executing with discipline.”Manuel V. Pangilinan, Chairman and CEO

PLDT’s Chairman and CEO, Manuel V. Pangilinan, expressed optimism about the company’s performance in the latter half of the year, stating that growth remains measured, but they are optimistic that the second half of the year will be better, as they build on their momentum and focus on executing with discipline. This sentiment is echoed by Vice-President and Investor Relations Head Marseille Nograles, who mentioned that the trends they are seeing indicate improvements in the wireless segment and plans to engage more platforms to reach subscribers.

Despite the overall decline in net income, PLDT’s core income, which excludes certain adjustments, also fell slightly by 1.7% to ₱17.3 billion ($309 million). The company reported that its data and broadband services continue to drive growth, with revenues from these sectors totaling ₱84 billion ($1.5 billion) in the first half, up from ₱82.2 billion ($1.47 billion) a year earlier. This growth accounted for 86% of net service revenues.

In terms of capital expenditures, PLDT reduced its spending by 24.5% to ₱20.7 billion ($370 million) compared to ₱27.4 billion ($490 million) in the same period last year. The company is also focusing on expanding its data center business, which has seen a 13% annual growth driven by demand from hyperscalers and the public sector. PLDT is preparing for a new data center expansion, potentially located in Clark or Tarlac, with plans to increase its IT-ready capacity significantly.

“The trends we are seeing indicate improvements in the wireless segment and plans to engage more platforms to reach subscribers.”Marseille Nograles, Vice-President and Investor Relations Head

As of the end of June 2026, PLDT’s wireless consumer revenue remained stable at ₱42.1 billion ($750 million), supported by a rise in data services. The enterprise segment also grew by 5% to ₱24.8 billion ($440 million), bolstered by strong demand for ICT services and international connectivity.

PLDT shares rose by ₱5.00 ($0.09), or 0.41%, closing at ₱1,225.00 ($22) each on Thursday, reflecting investor confidence despite the reported declines in earnings.