PLDT Inc., the Philippines’ largest fully integrated telecommunications and digital services provider, today announced its financial results for the first quarter of 2025, posting steady growth across key business segments amid a softer market environment.
Gross Service Revenues rose 2% or ₱1.2 billion year-on-year to ₱53.4 billion, while Consolidated Service Revenues (net of interconnection costs) grew 1% to ₱49.0 billion. Data and broadband services, the core of PLDT’s revenue mix, grew by 2% to ₱41.4 billion, comprising 85% of consolidated service revenues. Excluding the drag from legacy services, service revenues would have increased 2% year-on-year.
“We’re navigating a softer market environment, but our fundamentals are intact,” said Manuel V. Pangilinan, Chairman and CEO of PLDT and Smart. “Broadband and fiber continue to anchor the business, while digital finance is emerging as a strong new driver. We remain focused on recovery and growth across all segments.”
Segment Highlights:
PLDT Home:
PLDT’s fixed broadband business sustained its leadership, with fiber-only revenues increasing by 7% to ₱14.7 billion. Fiber now accounts for 97% of PLDT Home’s total revenues of ₱15.2 billion. PLDT Home added 101,000 new fiber subscribers during the quarter, bringing the total to 3.47 million. ARPU remained the highest in the industry at ₱1,493, with churn at a low 1.99%.
Enterprise:
PLDT Enterprise posted ₱11.9 billion in net service revenues. Corporate data and ICT revenues rose 1% to ₱8.8 billion, led by strong demand for managed IT services (+101%), cybersecurity (+69%), and credit scoring (+48%) under ePLDT. Data center arm VITRO Inc. saw a 37% increase in colocation revenues, driven by demand from hyperscalers and AI workloads.
Individual Wireless:
Revenues from PLDT’s Individual Wireless segment totaled ₱21.3 billion. Data revenues held at ₱18.8 billion, comprising 88% of total segment revenue. Mobile data traffic grew by 6% to 1,378 Petabytes. 5G momentum remained strong with an 81% surge in traffic and a 60% rise in device adoption. Smart and TNT served a total of 58.61 million mobile subscribers at quarter-end.
Maya:
Maya, PLDT’s digital banking and payments platform, continued its rapid ascent. Deposits reached ₱44 billion (+49% YoY), while loan disbursements hit ₱28 billion, tripling from a year earlier. Maya remained the #1 digital bank and merchant acquirer in the Philippines, serving 6.8 million customers and processing over ₱1 trillion in annual merchant payments.
Network & Capex:
PLDT’s fiber footprint remains the most extensive in the country, reaching 1.2 million cable kilometers and passing 18.76 million homes. Capex for Q1 2025 was ₱6.3 billion, with full-year guidance maintained at ₱68–70 billion. Smart’s combined 4G/5G network now covers approximately 97% of the Philippine population.
Sustainability & ESG Initiatives:
In Q1 2025, PLDT reinforced its leadership in sustainability, expanding initiatives in climate action, biodiversity, e-waste recycling, and child protection. Highlights include:
-
24+ metric tons of e-waste collected under the “Be Kind. Recycle.” program.
-
53.8 billion malicious access attempts blocked; 1.7 million OSAEC-related URLs disabled since 2021.
-
Active leadership roles in the Global Compact Network Philippines and Philippine Business Coalition for Women Empowerment.
Financial Position:
As of end-March 2025, PLDT’s Consolidated Net Debt stood at ₱270.7 billion, with a Net Debt-to-EBITDA ratio of 2.48x, an improvement from end-2024. Credit ratings from Moody’s and S&P Global remain at investment grade, with debt maturities well spread.
Outlook:
While the telecommunications sector globally faces structural challenges, PLDT remains committed to its long-term strategy centered on resilience, digital innovation, and customer-centric execution.
“We’re staying the course—focused on execution, customer experience, and building the connectivity infrastructure and IT solutions for future growth,” Pangilinan added.
