PLDT Inc. (PHI) Earnings
PLDT Inc. is expected to report next earnings on August 11, 2026 (in NaN days), with a consensus EPS estimate of $0.68. PHI has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise -10.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 13, 2026 | $0.67 | $0.71 | +5.8% | $958M | +4.8% |
| Feb 26, 2026 | $0.60 | $0.39 | -35.1% | $936M | -2.4% |
| Nov 11, 2025 | $0.73 | $0.67 | -8.1% | $925M | -3.0% |
| Aug 12, 2025 | $0.73 | $0.69 | -5.9% | $959M | -2.5% |
| May 15, 2025 | $0.76 | $0.71 | -6.1% | $965M | — |
| Mar 13, 2025 | $0.65 | $0.67 | +3.2% | $960M | -2.3% |
| May 9, 2024 | $0.69 | $0.74 | +6.8% | $962M | — |
| Aug 3, 2023 | $0.59 | $0.70 | +17.6% | $932M | — |
| May 4, 2023 | $0.59 | $0.69 | +17.5% | $962M | — |
| Mar 24, 2023 | $0.48 | $0.60 | +26.1% | $950M | +2.6% |
| Nov 3, 2022 | $0.75 | $0.62 | -17.0% | $875M | -10.9% |
| Aug 4, 2022 | $0.63 | $0.73 | +16.4% | $929M | -4.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2025 · February 26, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Danny Yu presented PLDT's financial and operating highlights for 2025. Home had strong subscriber growth with fiber net adds of 392,000 in 2025, up 98% year-on-year. Wireless consumer business was stable with hyper personalization, 5G adoption and fixed wireless access driving growth. Enterprise delivered its highest revenues in 2025 with ICT as a key growth driver. VITRO launched the country's first operational hyperscale facility and built Pilipinas AI. Operating expenses were lower for the third consecutive year. Maya achieved full year profitability in 2025. PLDT showed strong performance in sustainability.
Guidance
2026 CapEx guidance is in the mid PHP 50 billion range. Focus is to steadily bring CapEx and CapEx intensity down while sustaining positive free cash flow. Discussions on Maya's IPO are ongoing with potential terms to be determined, possibly in the second half of 2026 or 2027.
Segment performance
PLDT's gross service revenues reached PHP 212.2 billion in 2025, up 2% or PHP 3.8 billion. Net service revenues were PHP 196.2 billion. EBITDA, excluding MRP costs, rose 3% to PHP 111.2 billion with a margin steady at 52%. For wireless, mobile data and fixed wireless reached PHP 77.2 billion, up 1%, making up 91% of wireless revenues. Wireless consumer revenues were PHP 85 billion, steady year-on-year. For Home, fiber revenues grew 6% to PHP 59.4 billion, accounting for 98% of Home revenues, and Home revenues reached an all-time high of PHP 61 billion, up 3%. For Enterprise, corporate data and ICT grew 3% to PHP 36.3 billion, now 75% of Enterprise revenues, and Enterprise revenues grew to a record PHP 48.4 billion.
Risks & headwinds
Konektadong Pinoy related, initial access list for DTIPs not yet issued, spectrum management policy framework expected late 2026 or later. Data center REIT IPO only covers part of data centers. Maya's Q4 loans disbursed increased but Q-on-Q earnings declined due to nonoperating and one-time items.
Analyst Q&A
Q: What drove the 5% quarter-on-quarter growth in Mobile in Q4?
A: High personalization offers to upsell, gross activations increased by roughly 10%-15%, and churn held firm.
Q: Why was broadband flat quarter-on-quarter with ARPU softness?
A: Impacted by calamities in the second half, redeployment of resources, and operating in a price-sensitive environment.
Q: Update on Konektadong Pinoy and Maya IPO?
A: DTIPs initial access list expected in March, TWG not formally constituted; Maya IPO discussions ongoing.
Q: Drag on Home broadband growth?
A: Legacy services including copper facilities and voice-only lines remaining to be migrated.
Q: Why did Maya have Q-on-Q earnings decline?
A: Mainly due to nonoperating and one-time items like fair value adjustments, foreign exchange movements and new product investments.
Q: IRR or payback expectations for data center AI-ready investments?
A: VITRO Santa Rosa offers option for customers with sensitive data.
Q: Data center REIT IPO objectives and impact?
A: Proceeds mainly for debt repayment, partial value unlocking.
Q: Why did interest expense grow faster than total debt?
A: Function of interest rate, loan balance and accretion of lease liabilities.
Q: What drove Mobile growth despite weak GDP?
A: Hyper-personalizations, improved network resiliency.
Q: Recurring net income of Maya in 2025?
A: Hard to distinguish, but Maya had profit in 2025 vs loss in 2024.
Q: Mobile momentum in second half and 2026 expectation?
A: Stable subscriber base, new activations, hyper-targeting offers, expected growth in 2026.
Q: Sustainability of Enterprise growth?
A: Mix of one-time large deals and recurring revenues.
Q: ARPU lift from hyper-personalization in Mobile?
A: About 40 million subscribers consented, expected to lift ARPU further by 2%