PLDT earns P21.7B as Maya deposits surge 68%

PLDT Inc. reported a net income of P21.7 billion in the first nine months of 2026, as consolidated gross service revenues increased 2% to P161.2 billion, supported by growth in its enterprise and digital financial services businesses.

Consolidated core income, however, declined 4% to P24.4 billion, reflecting the impact of higher depreciation costs. Net service revenues grew 1% to P146.9 billion, while earnings before interest, taxes, depreciation and amortization (EBITDA) increased 1% to P83.2 billion, keeping the EBITDA margin steady at 52%.

“We managed to grow revenues in a tough market, a tougher environment. We obviously have a lot of work ahead of us. We’ve invested in our network, our technology, and our people. Now we need to turn those investments into better service for our customers and stronger growth for the business,” PLDT and Smart chairman and CEO Manuel V. Pangilinan said.

Maya, PLDT’s digital financial services platform, continued to expand its banking operations, with deposit balances rising 68% year-on-year to P95 billion as of September 2026. Outstanding loans also climbed 58% to P44 billion.

Maya sustained profitability in the third quarter, with its loan-to-deposit ratio at 46% and net interest margin at 17.6% for the first nine months. Its gross nonperforming loan ratio improved to 4.9% from 6.1% at end-2025.

Maya’s contribution to PLDT’s core income increased 39% during the period.

Within PLDT’s telecommunications business, wireless consumer revenues grew 1% to P63.5 billion, with the segment returning to growth in the third quarter. Mobile data and fixed wireless access revenues rose 3% to P58.7 billion.

Enterprise remained the leading revenue growth contributor, with net service revenues climbing 4% to P37.2 billion. Excluding legacy services, corporate data, information and communications technology, and wireless revenues increased 8% to P31.2 billion.

PLDT reduced capital expenditures by 15% to P36.6 billion from P43 billion a year earlier and sustained positive free cash flow.