PLDT Inc. expects earnings to improve in the second half of 2026 following a first-half drop in net income, driven by momentum in its enterprise and digital banking segments.
The telecommunications giant reported a net income of P16.4 billion for the first six months of the year, down from P17.4 billion in the same period in 2025. Telco core income came in at P16.6 billion, as softer telecommunications results and higher depreciation and amortization were partially offset by Maya’s sustained profitability. Capital expenditures decreased to P20.7 billion, down from P27.4 billion a year earlier.
Despite lower net profit, gross service revenues rose 2% year-on-year to P108.7 billion, while net service revenues edged up 1% to P97.8 billion. Data and broadband continued to lead growth, generating P84 billion, representing 86% of total net service revenues. Excluding the drag from legacy services, net service revenues grew by 2%.
“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,” said PLDT and Smart Chairman and Chief Executive Manuel V. Pangilinan.
PLDT Enterprise folio showed revenue grew 5% to P24.8 billion, boosted by a 15% increase in enterprise wireless revenue (A2P messaging, IoT, and connectivity) and a 21% surge in ePLDT and VITRO REIT combined revenues from data centers and cloud services.
PLDT Home’s revenue meanwhile reached P30 billion, with fiber revenues holding stable at P29.4 billion and total fiber subscribers reaching 3.9 million.
Revenue from wireless consumers stood steady at P42.1 billion. Mobile data revenue, including fixed wireless access, rose 2% to P38.7 billion, accounting for 92% of the segment’s total revenue.
The digital banking arm, Maya, sustained second-quarter profitability, supporting consolidated earnings. Deposit balances surged 71% year-on-year to P86 billion, while outstanding loans expanded 56% to P39 billion.
PLDT confirmed it will continue targeted investments across fiber and wireless infrastructure, along with enterprise, data center and digital services. As of end-June, the group’s fiber network spanned approximately 1.3 million cable kilometers across domestic and international routes.