PLDT, INC. posted a 1.77% decline in first-quarter attributable net income to P8.87 billion from a 12 months earlier, as higher expenses outweighed modest revenue growth.
Revenue rose 2.23% to P56.51 billion, the corporate said in an announcement on Thursday. Service revenue accounted for the majority of the overall at P54.91 billion, while nonservice sales contributed P1.61 billion.
“We’re moving in the fitting direction,” PLDT Chairman Manuel V. Pangilinan said. “The basics are sound and the momentum is there, but our team is able to more.”
He added that the corporate expects stronger execution because it continues to construct on its performance.
Wireless services remained the principal revenue driver led by Smart Communications, Inc. at P21 billion, while the home-based business segment contributed P15 billion.
PLDT said Smart’s mobile subscriber base continued to get better, supported by sustained demand for data services and growing uptake of fixed wireless access.
On the enterprise side, data usage trends remained strong, reflecting regular connectivity demand across consumer and business segments.
Total expenses rose 5.43% to P42.75 billion a 12 months earlier. General operating costs accounted for the biggest share at P18.2 billion, contributing to the general increase in spending.
Core income, which excludes one-off items akin to asset sales and certain investment impacts, declined 2.28% to P8.58 billion.
Maya Innovations Holdings contributed P285 million to PLDT’s core earnings throughout the quarter.
PLDT also reported continued growth in data consumption. Total traffic increased 10% to 1,583 petabytes, reflecting higher engagement across mobile, broadband and enterprise services.
The number of knowledge users rose to 44.1 million from 43.2 million.
The corporate maintained its capital expenditure program, with first-quarter spending reaching P10 billion, barely lower than P10.8 billion a 12 months earlier.
For 2026, PLDT has set a capital expenditure budget within the mid-P50-billion range, lower than the roughly P60 billion spent in 2025, because it continues to prioritize efficiency and network optimization.
Individually, PLDT is moving to completely acquire Radius Telecoms, Inc. from Paragon Vertical Corp. for P2.94 billion.
The corporate’s board has approved the acquisition of the remaining 65.1% equity interest, or 4.65 million common shares, giving PLDT full ownership of the corporate.
PLDT holds a 34.9% stake in Radius, which provides fiber infrastructure services to enterprise buildings, residential multi-dwelling units and gated communities.
Paragon Vertical is a completely owned unit of e-Meralco Ventures, Inc., which is under Manila Electric Co.
PLDT shares rose 1.23% or P15 to shut at P1,236 each on the Philippine Stock Exchange.
Hastings Holdings, Inc., a unit of the PLDT Helpful Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose