PLDT Inc. reported a slight decline in first-quarter earnings for 2026 as rising operating costs and softer consumer spending weighed on profitability despite higher revenues.
The country’s largest telecommunications company posted a net income of P8.86 billion from January to March, slightly lower than the P9.02 billion recorded during the same period last year.
Core income, however, rose 2 percent to P9.09 billion from P8.8 billion a year earlier, supported by continued contributions from Maya and gains from asset sales under PLDT’s ongoing asset monetization program.
“We are moving in the right direction,” said Manuel V. Pangilinan, chairman and chief executive officer of PLDT and Smart.
“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,” he added.
PLDT’s consolidated revenues increased 2 percent to P56.51 billion in the first quarter from P55.27 billion in the same period last year.
Its Wireless Consumer segment generated P21 billion in revenues, slightly lower than the P21.3 billion posted a year earlier, as economic pressures and reduced consumer spending continued to affect mobile usage and household budgets.
Meanwhile, PLDT Home maintained fiber revenues at P14.7 billion, flat year-on-year, while the company’s Enterprise Business segment posted a 4 percent increase in revenues to P12.4 billion.
The telecommunications giant also maintained a disciplined spending strategy for 2026, setting capital expenditures in the mid-P50 billion range.
For the first three months of the year, capital expenditures reached P10 billion, slightly lower than the P10.8 billion recorded in the same period in 2025.
PLDT said it continued expanding and upgrading its fiber and wireless infrastructure to improve coverage and service reliability nationwide.
As of end-March 2026, the group’s domestic and international fiber network had reached 1.29 million cable kilometers.