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PANGILINAN-LED PLDT Inc. posted a third-quarter attributable net income of P6.93 billion, down 28.26% from P9.66 billion in the same period last year, as higher expenses offset revenue growth.

“PLDT remains guided by discipline and long-term value creation — principles that have seen us through every cycle,” PLDT Chairman and Chief Executive Officer Manuel V. Pangilinan said in a disclosure on Tuesday.

“As we continue working to maintain our level of profitability in 2025, our task moving forward would be to convert steadiness into progress — to act with greater speed, imagination, and accountability,” he added.

For the third quarter, PLDT reported revenues of P53.71 billion, slightly up from P53.36 billion a year ago, while expenses rose to P42.36 billion from P39.62 billion.

For the nine-month period ending September, total revenues climbed 1.45% to P163.28 billion from P160.94 billion, while expenses increased 3.61% to P123.39 billion from P119.09 billion.

Service revenues accounted for the bulk of the topline at P145.9 billion, up from P144.9 billion a year earlier.

PLDT’s nine-month attributable net income declined 10.69% to P25.07 billion from P28.07 billion, while telco core income — which excludes asset sales and Maya-related gains or losses — fell 4.97% to P25.26 billion from P26.58 billion.

Segment contributions remained steady, with wireless revenue at P63.2 billion, home at P45.7 billion, and enterprise at P35.6 billion.

Capital expenditures for the nine-month period totaled P43 billion, down from P52.3 billion a year earlier, reflecting continued discipline in spending.

Mr. Pangilinan said the company intends to maintain its capital spending at the current level for next year.

PLDT’s digital bank, Maya, sustained profitability, with deposit balances reaching P57 billion as of end-September and total loan disbursements since launch hitting P187 billion.

At the local bourse on Tuesday, PLDT shares gained by P52, or 4.65%, to close at P1,170 apiece.

Hastings Holdings Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings Inc., holds a majority stake in BusinessWorld through the Philippine Star Group. — Ashley Erika O. Jose

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