PLDT Inc. reported an 8 percent drop in income to P9.0 billion in the first quarter of 2025, dragged by a softer market and rising costs.

While the industry faced a sluggish start, PLDT remains focused on growth.

PLDT Chairman and CEO Manuel V. Pangilinan pointed to its broadband and fiber business and the rising momentum of Maya Innovations Holdings as key drivers.

“We’re navigating a softer market environment, but our fundamentals are intact. Broadband and fiber continue to anchor the business, while digital finance is emerging as a strong new driver. We remain focused on recovery and growth across all segments,” Pangilinan said.

Telco core income—excluding asset sales and Maya’s contribution—fell 6 percent to P8.8 billion. Still, total core income held steady at P8.9 billion with help from Maya’s gains.

Gross Service Revenues rose 2 percent to P53.4 billion, while Consolidated Service Revenues inched up 1 percent to P49.0 billion. Data and broadband made up 85 percent of the total.

EBITDA grew 2 percent to P27.9 billion, with margins holding at 52 percent despite cost pressures.

PLDT spent P6.3 billion in capex from January to March, down from P11.3 billion a year earlier. The figure falls well within its full-year capex target of P68–70 billion.

“We’re staying the course—focused on execution, customer experience, and building the connectivity infrastructure and IT solutions for future growth,” Pangilinan said.

“Our priorities remain clear: to deliver value to our stakeholders, expand digital access and solutions, and position the Group for long-term presence as the largest integrated digital company.”