PLDT Inc., one of the biggest telecommunications companies in the Philippines, has shared its financial report for the first three months of 2026 (January to March). According to the company’s announcement on May 14, 2026, their business showed steady growth driven mainly by internet and data services.

What Did PLDT Earn?

Think of revenue as the total money a company receives from selling its products or services. PLDT reported that its Gross Service Revenues grew by 3%, reaching ₱54.9 billion for the first quarter of 2026. To put it simply, PLDT earned about ₱54.9 billion from providing phone, internet, and other digital services to Filipinos during these three months.

The company’s Net Service Revenues (which is the money left after paying for certain costs like connecting calls between networks) stayed stable at ₱48.9 billion. When you remove the declining old services (called “legacy services” – think of old landline phones that fewer people use now), the revenues actually grew by 2%.

Data and Internet Are the Stars

The biggest highlight is that data and broadband services – basically internet services – brought in ₱41.9 billion, which represents 86% of PLDT’s total service revenues. This shows that Filipinos are using more internet for watching videos, playing games, browsing social media, and working or studying online.

Last year, data and broadband made up 85% of revenues, so this increase to 86% shows that internet services are becoming even more important to PLDT’s business.

Understanding EBITDA and Profitability

PLDT’s EBITDA increased by 2% to reach ₱28.3 billion. EBITDA stands for “Earnings Before Interest, Taxes, Depreciation, and Amortization” – which sounds complicated, but it’s basically a way to measure how much money a company makes from its main business operations. The company’s EBITDA margin stayed stable at 52%, meaning that for every ₱100 PLDT earns, about ₱52 is profit before certain expenses.

Core Income, another measure of profitability, grew 2% to ₱9.1 billion. This was helped by Maya (PLDT’s digital banking service) continuing to make profits and money from selling some company assets. The company’s reported Net Income was ₱8.9 billion for the quarter.

Mobile Phone Business: More People Using 5G

PLDT’s wireless (mobile phone) business for regular consumers earned ₱21 billion in revenues. Even though people were being careful with their spending during this period, Smart (PLDT’s mobile phone brand) saw its customer base growing again.

Wireless data revenues grew 1% to ₱19.4 billion, now making up 92% of all wireless consumer revenues. This means almost all the money from mobile services comes from internet data, not traditional voice calls or text messages.

People are using much more internet on their phones – total data traffic increased by 10% to 1,583 petabytes (that’s an enormous amount of data!). The number of people actively using mobile internet grew to 44.1 million users by the end of March.

An exciting development is that 5G users increased by 34% to reach 12.2 million people, which is 20% of all subscribers. 5G is the newest, fastest mobile internet technology, and more Filipinos are using it as 5G phones become more affordable.

Fixed Wireless revenues surged 18%, which refers to using wireless technology to provide home internet service, especially in areas where fiber cables haven’t been installed yet.

Home Internet: Going Through Changes

PLDT Home, which provides internet to houses and apartments, earned ₱14.7 billion from fiber services, staying flat compared to last year. Total home revenues reached ₱15 billion, down slightly by 1%.

According to PLDT, this small decline was temporary and happened because the company was upgrading its computer systems to newer, cloud-based technology powered by artificial intelligence. Think of it like renovating your house – things might be a bit messy during construction, but it will be better afterward.

PLDT Home had 3.80 million subscribers as of March 2026, and fiber made up 98% of all home revenues, showing that almost everyone with PLDT home internet is using the fast fiber connection instead of older technologies.

Business Customers: Companies Want More Tech Services

PLDT’s Enterprise Business (serving companies and organizations) reported revenues of ₱12.4 billion, up 4% from last year. This growth was driven by businesses wanting more advanced technology services.

Corporate Data and ICT (Information and Communications Technology) revenues rose 5% to ₱9.3 billion, accounting for 75% of enterprise revenues. ICT revenues specifically jumped 17%, as more companies are moving to cloud computing, managed IT services, and data analytics.

Within ICT, some impressive growth numbers include: Managed IT Services grew 79%, and Data & AI services increased 31%. Data Center revenues grew 10%, supported by demand for secure facilities to store company data.

Spending and Debt

PLDT spent ₱10 billion on capital expenditures (money spent on building and improving networks and infrastructure) in the first quarter, down from ₱10.8 billion in the same period last year. The company is being careful with spending while still investing in important improvements.

As of March 2026, PLDT’s Net Debt was ₱282.3 billion, while its Net Debt-to-EBITDA ratio improved to 2.53x from 2.56x at the end of 2025. This ratio measures how much debt a company has compared to its earnings – a lower number is generally better. PLDT maintains investment-grade credit ratings from Moody’s and S&P Global.

Maya Digital Banking Continues Growing

Maya, PLDT’s digital banking and payments platform, continued performing well and making profits. As of March 2026, Maya’s deposit balance reached ₱76 billion, up 73% from last year, while its loan book stood at ₱33 billion.

Maya’s asset quality remained healthy with a gross NPL (non-performing loan) ratio of 4.9%, meaning most people are paying back their loans on time.

What the CEO Said

Manuel V. Pangilinan, PLDT’s Chairman and CEO, commented on the results: “We are moving in the right direction. 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.”

About PLDT

PLDT Inc. (stock symbol: TEL on the Philippine Stock Exchange) is one of the Philippines’ leading telecommunications and digital services providers. The company offers mobile services through Smart, home internet through PLDT Home, business solutions through its Enterprise division, and digital financial services through Maya. PLDT trades on both the Philippine Stock Exchange and the New York Stock Exchange (NYSE: PHI).