PLDT posted ₱53.4 billion in gross service revenues for the first quarter of 2025, up 2% or ₱1.2 billion from the same period last year.
The increase was led by data and broadband services, which contributed ₱41.4 billion, or 85% of consolidated service revenues.
Net of interconnect costs, consolidated service revenues rose 1% year-on-year to ₱49.0 billion. Excluding the impact of legacy services, consolidated revenues grew 2%. Consolidated EBITDA also increased by 2% to ₱27.9 billion, with the EBITDA margin steady at 52% despite cost pressures.
Telco core income fell 6% to ₱8.8 billion, reflecting the absence of asset sales and lower contributions from non-telco units. However, overall core income held firm at ₱8.9 billion, supported by gains from PLDT’s digital bank Maya. Reported income declined 8% to ₱9.0 billion.
“We’re navigating a softer market environment, but our fundamentals are intact,” said PLDT and Smart Chairman and CEO Manuel V. Pangilinan. “Broadband and fiber continue to anchor the business, while digital finance is emerging as a strong new driver.”
PLDT Home revenues reached ₱15.2 billion, driven by ₱14.7 billion in fiber-only services, up 7% year-on-year. Fiber now accounts for 97% of Home revenues. Average revenue per user (ARPU) remained the highest in the market at ₱1,493, while churn fell to 1.99%. Total fiber subscribers hit 3.47 million by end-March, with 101,000 net adds in the quarter—80% of which chose higher-value plans.
Enterprise revenues totaled ₱11.9 billion, supported by steady demand for connectivity and ICT services. Corporate data and ICT revenues rose 1% to ₱8.8 billion. ICT subsidiary ePLDT saw 16% revenue growth, led by a 101% increase in managed IT services, 69% in cybersecurity, and 48% in credit scoring.
PLDT’s wireless segment generated ₱21.3 billion in revenues, with data making up 88% of the total. Mobile data traffic grew 6% to 1,378 petabytes. 5G usage surged, with traffic up 81% and 5G device adoption rising 60% quarter-on-quarter, supported by network upgrades and more affordable 5G phones.
As of end-March, PLDT’s net debt stood at ₱270.7 billion, with a net debt-to-EBITDA ratio of 2.48x. Gross debt totaled ₱285.0 billion, 14% of which is U.S. dollar-denominated, and 5% unhedged. The company retained investment-grade ratings from Moody’s and S&P Global.
With sustained demand in fiber, enterprise ICT, and digital banking, PLDT aims to maintain growth through innovation, expanded connectivity, and disciplined financial management.
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