PLDT Group posts ₱54.9 billion gross revenue in Q1 2026, data and broadband now drive 86% of business

PLDT Inc. announced its financial and operating results for the first quarter of 2026, reporting a steady performance driven by the continued dominance of its data and broadband segments and disciplined capital management.

Financial highlights: Q1 2026 vs. Q1 2025

• Gross Service Revenues: ₱54.9 billion (↑ 3%)

• Data & Broadband Revenues: ₱41.9 billion (86% of Net Service Revenues)

• Consolidated EBITDA: ₱28.3 billion (↑ 2%)

• Core Income: ₱9.1 billion (↑ 2%)

• Reported Net Income: ₱8.9 billion

PLDT’s strategic shift toward a data-centric model continues to yield results. While legacy services face industry-wide headwinds, data and broadband revenues grew to ₱41.9 billion. This segment now accounts for 86% of Net Service Revenues, up from 85% in the previous year. When excluding the impact of legacy service “drag,” Net Service Revenues showed a healthy 2% underlying growth.

The company’s Consolidated EBITDA rose 2% to ₱28.3 billion, maintaining a strong and stable EBITDA margin of 52%.

PLDT continues to exercise capital discipline, with Capital Expenditure (Capex) for the first quarter totaling ₱10 billion, down from ₱10.8 billion in the same period last year. These investments remain focused on enhancing service quality and supporting growth areas, ensuring the company maintained a positive free cash flow position at the end of March.

Core Income reached ₱9.1 billion, a 2% increase year-on-year. This growth was bolstered by:

• Contributions from Maya, the group’s fintech arm.

• Gains from the company’s ongoing asset monetization program.

These gains successfully offset higher depreciation costs and softer operating results in the traditional telco segment, where Telco Core Income stood at ₱8.6 billion.

PLDT’s financial position remains resilient, with credit ratings from Moody’s and S&P Global consistently held at investment grade.

• Net Debt-to-EBITDA: Improved to 2.53x (from 2.56x at year-end 2025).

• Debt Profile: Only 5% of total debt remains unhedged, with U.S. dollar-denominated debt comprising only 14% of the total ₱297.3 billion gross debt.

• Funding Costs: The company continues to actively manage financing costs by negotiating favorable spreads and tenors with bank partners.

“We are moving in the right direction. 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,” said Manuel V. Pangilinan, PLDT and Smart Chairman and CEO.