PLDT Inc. Reports Q3 2025 Earnings: Revenue Up 1%, EBITDA Margin Holds at 52%

PHI
November 11, 2025

PLDT Inc. reported third‑quarter 2025 results on November 11, 2025, showing consolidated service revenues of PHP 145.9 billion, a 1 % year‑over‑year increase that reflects steady demand across its core telecom and digital services. EBITDA rose 3 % to PHP 82.8 billion, maintaining a 52 % margin that demonstrates the company’s ability to preserve profitability amid higher depreciation and financing costs.

Segment‑level data reveal that Home revenues grew 4 % YoY, driven by a surge in fiber‑optical subscriptions, while Enterprise revenue increased 2 % as businesses expanded their digital infrastructure. Telco core income fell 5 % to PHP 25.3 billion, a decline largely attributable to higher depreciation and financing charges on network and IT investments. Maya, PLDT’s fintech arm, contributed a stable core income of PHP 25.8 billion, offsetting the telco decline and underscoring the growing importance of digital financial services.

CEO Manuel V. Pangilinan emphasized disciplined capital allocation and long‑term value creation, stating, “PLDT remains guided by discipline and long‑term value creation—principles that have seen us through every cycle.” CFO Danny Yu highlighted the impact of increased depreciation and financing costs on core income, noting that the company’s investment in fiber and 5G infrastructure is a strategic priority that will pay off in the medium term.

Management lowered its full‑year 2025 CapEx guidance to PHP 60 billion, down from the original PHP 68‑73 billion range, citing more favorable pricing and terms on major network projects and a near‑completion of key IT initiatives. The company also reiterated its target of a net debt‑to‑EBITDA ratio of approximately 2.0× within three to four years, signaling a focus on debt reduction and financial flexibility.

Analysts had a consensus EPS forecast of PHP 0.73 for Q3 2025. PLDT’s reported earnings per share matched that consensus, indicating that the company met market expectations. The steady EBITDA margin and the guidance cut in CapEx were viewed as positive signs of disciplined cost management and a prudent investment strategy, reinforcing investor confidence in PLDT’s long‑term growth trajectory.

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