PLDT posts 2% decline in H1 2026 telco core income

PLDT Inc. posted a decline in its telco core income in the first half of 2026 amid soft consumer spending brought by the challenging economic environment during the period.

In a disclosure to the Philippine Stock Exchange on Thursday, PLDT reported a telco core income of ₱16.6 billion, down 2% from ₱17 billion a year ago.

This was on the back of a measly 1% growth in service revenues to ₱97.8 billion, from P97 billion year-on-year.

“Growth remains measured, but we are optimistic that the second half of the year will be better, as we build on our momentum and focus on executing with discipline,” said Manuel V. Pangilinan, PLDT-Smart chairman and CEO.

Across PLDT’s service revenues, wireless consumer posted a decline of ₱100 million to ₱42.1 billion with mobile data and fixed wireless accounting for ₱38.7 billion, up 2%.

Home broadband, meanwhile, slipped 1% to P30 billion with fiber accounting for ₱29.4 billion, down 1%.

Enterprise business saw 5% growth in revenues to ₱24.8 billion with corporate data accounting for ₱18.4 billion, up 5%.

PLDT’s capital expenditure for the first six months of 2026 amounted to ₱20.7 billion, lower than 27.4 billion in the same period last year. — BM, GMA News