PLDT Inc. posted a reported income of P18.1 billion in the first six months of the year, down 1 percent from a year earlier, as higher revenues from data and broadband were offset by cost pressures and a dip in telco core income.

Telco core income, which excludes gains from asset sales and Maya Innovations Holdings, slipped 4 percent to P17.2 billion.

Overall core income, however, inched up to P17.6 billion, supported by Maya’s positive contribution. PLDT’s equity share in Maya’s core income reached P406 million, a P1.1 billion turnaround from last year’s losses.

Gross revenues

Gross service revenues rose 3 percent or P2.9 billion to P106.3 billion, while consolidated service revenues held steady at P97.1 billion. Data and broadband, which grew from P1.3 billion to P82.2 billion, accounted for 85 percent of consolidated service revenues.

Without the drag from legacy services, consolidated service revenues were up 3 percent year-on-year.

Consolidated EBITDA increased 3 percent to P55.5 billion, with the margin steady at 52 percent despite rising costs.

“Our results for the first half of 2025 show the resilience of our business and the strength of our people. We continue to invest in the future — expanding our network, enhancing customer experience, and driving innovation across our businesses,” PLDT and Smart Chairman and CEO Manuel V. Pangilinan said.

Challenging environment

“In a challenging environment, we remain committed to delivering value to our customers, shareholders, and the country,” he added.

As of the end of June, consolidated net debt stood at P282.6 billion, with a net debt-to-EBITDA ratio of 2.57 times.

Gross debt totaled P293.8 billion, 13 percent of which is in US dollars and 5 percent unhedged.