PLDT shares financial & operating results for H1 2026 w/ 108.7B gross service revenue

PLDT releases its H1 financial report for the year 2026, sharing the profits and losses and a hopeful outlook for the 2nd half of the year.

PLDT's financial report

PLDT H1 2026 results: Growth, costs, and an optimistic outlook

PLDT Inc. reported a 2% increase in gross service revenues to PHP 108.7 billion for the first half of 2026, with net service revenues rising 1% to PHP 97.8 billion. 

Growth in data and broadband continued to offset declines in legacy services, with data and broadband now accounting for 86% of net service revenues, up from 85% a year earlier. Excluding legacy service declines, net service revenues grew 2%.

The highlights

Consolidated EBITDA rose 1% to PHP 56.1 billion, holding margins steady at 52%. Capital expenditure fell to PHP 20.7 billion from PHP 27.4 billion in the same period last year. 

Core income held stable at PHP 17.3 billion, aided by continued profitability at digital finance arm Maya, which helped cushion higher depreciation costs and softer telco results—telco core income came in at ₱16.6 billion. Net income for the half was PHP 16.45 billion.

The company's net debt stood at PHP 287.3 billion as of end-June, with a net debt-to-EBITDA ratio of 2.6x. Gross debt totaled PHP 299.7 billion, with only 14% denominated in U.S. dollars and just 5% unhedged. 

CEO MVP and COO Menardo Jimenez Jr.

PLDT retained investment-grade credit ratings from Moody's and S&P Global. Chairman and CEO Manuel V. Pangilinan said growth remained measured but expressed optimism for a stronger second half.

Segment performance

The wireless consumer business generated PHP 42.1 billion in revenue, roughly flat year-on-year, but showed improving momentum—monthly top-ups turned positive in June after months of decline. Data revenues, including fixed wireless access, rose 2% to PHP 38.7 billion. 

Smart also adjusted prepaid pricing, shifting PHP 99 offers to PHP 109 with added benefits. ARPU trends were mixed: Postpaid ARPU rose to PHP 687, Prepaid ARPU held near PHP 119, while TNT ARPU came in at PHP 98.

PLDT Home revenues reached PHP 30.0 billion, supported by 3.9 million fiber subscribers and an industry-best blended churn rate of 1.8%. The unit launched new bundled offerings, including Fiber Unli All and the StreamTV+ entertainment platform, and partnered with Meralco and MSpectrum on rooftop solar options for subscribers.

PLDT Sustainability and Maya's growth

PLDT Enterprise revenues climbed 5% to PHP 24.8 billion, driven by strong ICT and wireless performance. Enterprise wireless lines surpassed one million for the first time, while ePLDT and VITRO REIT posted combined growth of 21%, fueled by data center colocation and cloud services demand — an area the company expects to benefit from new government data-residency rules.

Maya, PLDT's digital financial arm, remained profitable in the second quarter, with deposits up 71% year-on-year to PHP 86 billion and loans up 56% to PHP 39 billion.

Network and sustainability

PLDT's fiber network now spans about 1.3 million cable kilometers. The company signed a memorandum of understanding with DITO Telecommunity for reciprocal infrastructure sharing, including tower access and submarine cable capacity.

On sustainability, PLDT was included in the FTSE4Good Index for an eighth consecutive year and reported expanded child-online-protection and e-waste initiatives, along with continued participation in nature-related financial disclosure frameworks.

For more information, check the official PLDT website.

 

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