PLDT's Q1 2025 Earnings Call: Unpacking Contradictions in Mobile Growth, Revenue Trends, and Competitive Landscape

Mobile subscriber trends and ARPU, fixed line and fiber broadband growth trends, Maya's financial performance and funding options, mobile service revenue trends and market share, competition and market environment in mobile services are the key contradictions discussed in PLDT's latest 2025Q1 earnings call.



Revenue and Earnings Performance:
- PLDT Inc. reported revenue of PHP 53.4 billion for Q1 2025, up 2% from the previous year.
- The company's EBITDA grew by 2% to PHP 27.9 billion, driven by strength in fiber and ICT segments, along with prudent cost management.
- However, Telco Core income was recorded at PHP 8.8 billion, down 6% year-on-year, due to increased depreciation and financing costs from network investments.

Fiber and Home Segment Growth:
- The Home segment achieved a 4% year-on-year increase in revenue to PHP 15.2 billion.
- Fiber now accounts for 97% of Home revenues, up from 92% in 2024, as the migration from legacy services continues.
- This growth was driven by sustained demand for fiber and the addition of nearly 101,000 new subscribers.

Enterprise Segment and ICT Growth:
- Enterprise revenues remained steady at PHP 11.9 billion, with a slight 1% uptick in corporate data and ICT revenues.
- The ICT segment grew 16% year-on-year to PHP 2.2 billion, now representing 22% of enterprise revenues, up from 19% a year ago.
- Growth was supported by new opportunities leveraging emerging technologies and the recently activated Asia Direct Cable.

Maya's Profitability and Growth:
- PLDT's fintech subsidiary, Maya, achieved its first full profitable quarter, contributing PHP 127 million to net income.
- Maya's deposit balance reached PHP 44 billion, up 49% year-on-year, with 1.8 million borrowers and 120 million cumulative loans disbursed since inception.
- The growth was driven by a combination of robust loan growth, increased deposits, and payment volume.