UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

May 14, 2026

PLDT INC.

(Translation of registrant’s name into English)

Ramon Cojuangco Building

Makati Avenue, Makati City

Philippines

(Address of registrant’s principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.


Registrant: PLDT Inc.


Signature and Title:	/s/ Manuel V. Pangilinan
	Manuel V. Pangilinan
	Chairman, President and Chief Executive Officer


Signature and Title:	/s/ Danny Y. Yu
	Danny Y. Yu
	Senior Vice President and PLDT Group Chief Financial Officer
	(Principal Financial Officer)


Signature and Title:	/s/ Gil Samson D. Garcia
	Gil Samson D. Garcia
	First Vice President
	(Principal Accounting Officer)

Date: May 14, 2026


SEC Number	PW-55
File Number

PLDT Inc.

(Company’s Full Name)

Ramon Cojuangco Building

Makati Avenue, Makati City

(Company’s Address)

(632) 82500254

(Telephone Number)

Not Applicable

(Fiscal Year Ending)

(month & day)

SEC Form 17-Q

Form Type

Not Applicable

Amendment Designation (if applicable)

March 31, 2026

Period Ended Date

Not Applicable

(Secondary License Type and File Number)

May 14, 2026

The Philippine Stock Exchange, Inc.

6/F Philippine Stock Exchange Tower

28th Street corner 5th Avenue

Bonifacio Global City, Taguig City


Attention:		Atty. Johanne Daniel M. Negre
		Officer-In-Charge - Disclosure Department

Securities & Exchange Commission

7907 Makati Avenue, Salcedo Village

Barangay Bel-Air, Makati City


Attention:		Atty. Oliver O. Leonardo
		Director – Markets and Securities Regulation Department

Dear All:

In compliance with Section 17(b) of the Securities Regulation Code and SRC Rule 17.3, we submit herewith PLDT Inc.'s SEC Form 17-Q with Management’s Discussion and Analysis and accompanying unaudited consolidated financial statements for the three (3) months ended March 31, 2026.

This submission shall also serve as our compliance with Section 17.1 of the Securities Regulation Code regarding the filing of reports on significant developments.


Very truly yours,

/s/ Mark David P. Martinez
MARK DAVID P. MARTINEZ
Assistant Corporate Secretary PLDT Inc.

COVER SHEET


SEC Registration Number
P	W	-	5	5

Company Name

Principal Office (No./Street/Barangay/City/Town/Province)

     Form Type

     Department requiring the report

     Secondary License Type, If Applicable

PART I – FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements

Our consolidated financial statements as at March 31, 2026 (unaudited) and December 31, 2025 (audited) and for the three months ended March 31, 2026 and 2025 (unaudited) and related notes (pages F-1 to F-119) are filed as part of this report on Form 17-Q.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

In the following discussion and analysis of our financial condition and results of operations, unless the context indicates or otherwise requires, references to “we,” “us,” “our” or “PLDT Group” mean PLDT Inc. and its consolidated subsidiaries, and references to “PLDT” or “the Company” mean PLDT Inc., not including its consolidated subsidiaries (please see Note 2 – Summary of Material Accounting Policies to the accompanying unaudited consolidated financial statements for the list of these subsidiaries, including a description of their respective principal business activities and PLDT’s direct and/or indirect equity interest).

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the accompanying unaudited consolidated financial statements and the related notes. Our unaudited consolidated financial statements, and the financial information discussed below, have been prepared in accordance with Philippine Financial Reporting Standards (PFRS Accounting Standards) which is virtually converged with International Financial Reporting Standards as issued by the International Accounting Standards Board. PFRS Accounting Standards differs in certain significant respects from generally accepted accounting principles (GAAP) in the U.S.

The financial information appearing in this report and in the accompanying unaudited consolidated financial statements are stated in Philippine Peso. Unless otherwise indicated, in this report and in the accompanying unaudited consolidated financial statements, the exchange rate used to convert the U.S. Dollar amounts into the Philippine Peso was Php60.68 to US$1.00, the Philippine Peso-U.S. Dollar exchange rate as quoted through the Bankers Association of the Philippines as at March 31, 2026.

Some information in this report may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. We have based these forward-looking statements on our current beliefs, expectations and intentions as to facts, actions and events that will or may occur in the future. Such statements generally are identified by forward-looking words such as “believe,” “plan,” “anticipate,” “continue,” “estimate,” “expect,” “may,” “will” or other similar words.

A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We have chosen these assumptions or bases in good faith. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual results may differ materially from information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the risk factors. When considering forward-looking statements, you should keep in mind the description of risks and other cautionary statements in this report. You should also keep in mind that any forward-looking statement made by us in this report or elsewhere speaks only as at the date on which we made it. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect us. We have no duty to, and do not intend to, update or revise the statements in this report after the date hereof. In light of these risks and uncertainties, you should keep in mind that actual results may differ materially from any forward-looking statement made in this report or elsewhere.

Financial Highlights and Key Performance Indicators


	Three Months Ended March 31,						Increase (Decrease)
	2026			2025			Amount			%
(amounts in million Php, except for EBITDA margin and earnings per common share)
Consolidated Income Statement
Revenues		56,513			55,277			1,236			2
Expenses		42,752			40,549			2,203			5
Other expenses – net		(2,504	)		(2,924	)		420			14
Income before income tax		11,257			11,804			(547	)		(5	)
Net income		8,918			9,064			(146	)		(2	)
Core income		9,093			8,893			200			2
Telco core income		8,578			8,776			(198	)		(2	)
EBITDA		28,288			27,865			423			2
EBITDA margin(1)		52	%		52	%
Reported earnings per common share:
Basic		40.98			41.71			(0.73	)		(2	)
Diluted		40.98			41.71			(0.73	)		(2	)
Core earnings per common share(2):
Basic		42.02			41.09			0.93			2
Diluted		42.02			41.09			0.93			2


	March 31,		December 31,		Increase (Decrease)
	2026		2025		Amount			%
(amounts in million Php, except for net debt to equity ratio)
Consolidated Statements of Financial Position
Total assets		639,555		634,828		4,727			1
Property and equipment		327,288		327,989		(701	)		—
Cash and cash equivalents and short-term investments		14,544		11,876		2,668			22
Total equity attributable to equity holders of PLDT		125,921		126,889		(968	)		(1	)
Long-term debt, including current portion		295,462		295,048		414			—
Net debt(3) to equity ratio	2.24x		2.24x			—			—

(1)

EBITDA margin for the period is measured as EBITDA divided by service revenues.

(2)

Core earnings per common share (EPS) for the period is measured as core income divided by the weighted average number of outstanding common shares for the period.

(3)

Net debt is derived by deducting cash and cash equivalents, short-term investments and debt instruments at amortized cost from total interest-bearing financial liabilities (principal amount of long-term debt, including current portion i.e., excluding debt issuance cost).


	Three Months Ended March 31,						Change
	2026			2025			Amount			%
(amounts in million Php, except for operational data)
Consolidated Statements of Cash Flows
Net cash from operating activities		22,751			24,545			(1,794	)		(7	)
Net cash used in investing activities		(11,829	)		(15,851	)		4,022			25
Payment for purchase of property and equipment, including capitalized interest		(12,388	)		(16,142	)		3,754			23
Net cash used in financing activities		(8,360	)		(4,918	)		(3,442	)		(70	)
Operational Data
Total number of subscribers		68,753,716			66,239,125			2,514,591			4
Number of mobile subscribers:		60,882,800			58,608,463			2,274,337			4
Prepaid		58,478,188			56,300,981			2,177,207			4
Postpaid		2,404,612			2,307,482			97,130			4
Number of broadband subscribers:		4,290,441			3,945,937			344,504			9
Fixed Line broadband		3,837,443			3,507,947			329,496			9
Fixed Wireless broadband		452,998			437,990			15,008			3
Number of fixed line voice subscribers		3,580,475			3,684,725			(104,250	)		(3	)
Number of employees:		14,128			14,850			(722	)		(5	)
Fixed Line		10,377			10,741			(364	)		(3	)
LEC		9,191			9,502			(311	)		(3	)
Others		1,186			1,239			(53	)		(4	)
Wireless		3,751			4,109			(358	)		(9	)


Exchange Rates – per US$	Month end rates		Weighted average rates during the year
March 31, 2026		60.68		59.00
December 31, 2025		58.79		57.51
March 31, 2025		57.28		57.95
December 31, 2024		57.85		57.28

Performance Indicators

We use a number of non-GAAP performance indicators to monitor financial performance. These are summarized below and discussed later in this report.

EBITDA and EBITDA Margin

EBITDA for the period is measured as net income excluding depreciation and amortization, amortization of intangible assets, asset impairment on noncurrent assets, financing costs – net, interest income, equity share in net earnings (losses) of associates and joint ventures, foreign exchange gains (losses) – net, gains (losses) on derivative financial instruments – net, provision for (benefit from) income tax and other income (expenses) – net, manpower rightsizing program (MRP) and non-recurring income (expenses). EBITDA margin is calculated as EBITDA divided by service revenues. EBITDA and EBITDA margin are monitored by management for each business unit separately for purposes of making decisions about resource allocation and performance assessment. EBITDA and EBITDA margin are presented because our management believes that it is widely used by investors in their analysis of our performance and can assist them in their comparison of our performance with those of other companies in the technology, media and telecommunications sector. Companies in the technology, media and telecommunications sector have historically reported EBITDA as a supplement to financial measures in accordance with PFRS Accounting Standards. EBITDA and EBITDA margin should not be considered as alternatives to net income as indicators of our performance, nor should EBITDA and EBITDA margin be considered as alternatives to cash flows from operating activities, as a measure of liquidity or as alternatives to any other measure determined in accordance with PFRS Accounting Standards. Unlike net income, EBITDA does not include depreciation and amortization, or financing costs and, therefore, does not reflect current or future capital expenditures or the cost of capital. We compensate for these limitations by using EBITDA and EBITDA margin as only one of several comparative tools, together with PFRS Accounting Standards-based measurements, to assist in the evaluation of operating performance. Such PFRS Accounting Standards-based measurements include income before income tax, net income, and operating, investing and financing cash flows. We have significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other non-recurring charges, which are not reflected in EBITDA. Our calculation of EBITDA and EBITDA margin may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

Core Income and Telco Core Income

Core income for the period is measured as net income attributable to equity holders of PLDT (net income less net income attributable to noncontrolling interests), excluding foreign exchange gains (losses) – net, gains (losses) on derivative financial instruments – net (excluding hedge costs), impairment on noncurrent assets, other non-recurring gains (losses), net of tax effect of aforementioned adjustments, as applicable, and similar adjustments to equity share in net earnings (losses) of associates and joint ventures. Core income results are monitored by management for each business unit separately for purposes of making decisions about resource allocation and performance assessment.

Meanwhile, telco core income for the period is measured as net income attributable to equity holders of PLDT (net income less net income attributable to noncontrolling interests), excluding foreign exchange gains (losses) – net, gains (losses) on derivative financial instruments – net (excluding hedge costs), impairment on noncurrent assets, non-recurring gains (losses), net of tax effect of aforementioned adjustments, as applicable, and similar adjustments to equity share in net earnings (losses) of associates and joint ventures, adjusted for the effect of the share in Maya Innovations Holdings, Pte. Ltd. (MIH) and Kayana Solutions, Inc. (Kayana), formerly Limitless Growth Ventures, Inc. income (losses), asset sales, and depreciation due to change in accounting estimate. Telco core income is used by the management as a basis for determining the level of dividend payouts to shareholders and one of the bases for granting incentives to employees.

Core income and telco core income should not be considered as alternatives to income before income tax or net income determined in accordance with PFRS Accounting Standards as an indicator of our performance. Unlike net income, core income and telco core income do not include certain items, among others, foreign exchange gains and losses, gains and losses on derivative financial instruments, impairment on non-current assets and non-recurring gains and losses. We compensate for these limitations by using core income and telco core income as few out of several comparative tools, together with PFRS Accounting Standards-based measurements, to assist us in the evaluation of our operating performance. Such PFRS Accounting Standards-based measurements include income before income tax and net income. Our calculation of core income may be different from the calculation methods used by other companies and, therefore, comparability may be limited.

Overview

We are one of the leading telecommunications and digital services providers in the Philippines serving the fixed line, wireless and broadband markets. Through our three principal business segments, Wireless, Fixed Line and Others, we offer a wide range of telecommunications and digital services across our extensive fiber optic backbone and wireless and fixed line networks.

As at March 31, 2026, we serve 68.8 million customers through the provision of mobile, fixed line and data services.

Our three business units are as follows:

•

Wireless  Our Wireless business segment focuses on driving the growth of our data services while managing our legacy business of voice and short messaging services (SMS). We generate data revenues across all segments of our wireless business, whether through the access of mobile internet via smartphones, mobile broadband using pocket WiFi or home WiFi using fixed wireless broadband devices. We provide the following mobile telecommunications services through our wireless business: (i) mobile services, (ii) fixed wireless broadband services, and (iii) other services.

•

Fixed Line  We are the leading provider of fixed line telecommunications services throughout the Philippines, servicing retail, corporate and small and medium-sized enterprises (SME) clients. Our Fixed Line business segment offers data, voice, and miscellaneous services. We also offer secure data center, multi-cloud, cyber security, data and artificial intelligence (AI) solutions through ePLDT Inc. and Vitro Inc. (“Vitro”), our ICT subsidiaries.

•

Others  Our Other business segment consists primarily of our interests in digital platforms and other technologies, including our interests in MIH and Kayana.

Management’s Financial Review

In addition to consolidated net income, we use EBITDA, EBITDA Margin, core income and telco core income to assess our operating performance. Set forth below is a reconciliation of our consolidated net income to our consolidated EBITDA and EBITDA Margin, and a reconciliation of our consolidated net income to our consolidated core income and consolidated telco core income for the three months ended March 31, 2026 and 2025.

The following table shows the reconciliation of our consolidated net income to our consolidated EBITDA and EBITDA Margin, by business segment, for the three months ended March 31, 2026 and 2025:


	Wireless			Fixed Line			Others			Inter-segment and Consolidation Entries			Consolidated
	(amounts in million Php)
For the three months ended March 31, 2026
Consolidated net income		2,500			7,556			1,010			(2,148	)		8,918
Add (deduct) adjustments:
Depreciation and amortization		9,143			6,810			—			(1,673	)		14,280
Financing costs – net		2,470			2,244			—			(404	)		4,310
Provision for income tax		599			1,642			—			98			2,339
Foreign exchange losses (gains) – net		(49	)		1,318			(1	)		(3	)		1,265
Manpower rightsizing program (MRP)		109			138			—			—			247
Interest income		(125	)		(38	)		(1	)		3			(161	)
Gains on derivative financial instruments – net		(194	)		(278	)		—			—			(472	)
Equity share in net income of associates and joint ventures		—			(14	)		(1,009	)		—			(1,023	)
Others – net		(816	)		(3,532	)		—			2,933			(1,415	)
Total adjustments		11,137			8,290			(1,011	)		954			19,370
Consolidated EBITDA		13,637			15,846			(1	)		(1,194	)		28,288
Service revenues		24,590			33,879			—			(3,564	)		54,905
EBITDA margin(1)		55	%		47	%		—			34	%		52	%

For the three months ended March 31, 2025
Consolidated net income (loss)		2,249			7,934			113			(1,232	)		9,064
Add (deduct) adjustments:
Depreciation and amortization		8,941			6,362			—			(2,231	)		13,072
Financing costs – net		2,431			2,250			—			(345	)		4,336
Provision for (benefit from) income tax		707			2,087			(13	)		(41	)		2,740
Losses on derivative financial instruments – net		133			202			—			—			335
MRP		11			54			—			—			65
Equity share in net losses (income) of associates and joint ventures		—			29			(112	)		—			(83	)
Interest income		(158	)		(43	)		(3	)		5			(199	)
Foreign exchange losses (gains) – net		(161	)		(384	)		13			(12	)		(544	)
Others		(447	)		(2,042	)		(3	)		1,571			(921	)
Total adjustments		11,457			8,515			(118	)		(1,053	)		18,801
Consolidated EBITDA		13,706			16,449			(5	)		(2,285	)		27,865
Service revenues		24,391			33,336			—			(4,306	)		53,421
EBITDA margin(1)		56	%		49	%		—			53	%		52	%

(1)

EBITDA margin for the period is measured as EBITDA divided by service revenues.

The following table shows the reconciliation of our consolidated net income to our consolidated core income and telco core income, by business segment, for the three months ended March 31, 2026 and 2025:


	Wireless			Fixed Line			Others			Inter-segment and Consolidation Entries			Consolidated
	(amounts in million Php)
For the three months ended March 31, 2026
Consolidated net income		2,500			7,556			1,010			(2,148	)		8,918
Add (deduct) adjustments:
Foreign exchange losses (gains) – net		(49	)		1,318			(1	)		(3	)		1,265
Accelerated depreciation and amortization		257			77			—			—			334
MRP		109			138			—			—			247
Amortization of debt discount from debt modification		28			12			—			—			40
Net income attributable to noncontrolling interests		(4	)		(19	)		—			(26	)		(49	)
Gains on derivative financial instruments – net, excluding hedge costs		(205	)		(321	)		—			—			(526	)
Core income adjustment on equity share in net income of associates and joint ventures		—						(796	)		—			(796	)
Net tax effect of aforementioned adjustments		(35	)		(306	)		—			1			(340	)
Total adjustments		101			899			(797	)		(28	)		175
Consolidated core income		2,601			8,455			213			(2,176	)		9,093
Add (deduct) adjustments:
Share in MIH income		—			—			(285	)		—			(285	)
Share in Kayana losses		—			—			54			—			54
Gain on asset sales, net of tax		(12	)		(272	)		—			—			(284	)
Total adjustments		(12	)		(272	)		(231	)		—			(515	)
Telco core income (loss)		2,589			8,183			(18	)		(2,176	)		8,578


For the three months ended March 31, 2025
Consolidated net income (loss)		2,249			7,934			113			(1,232	)		9,064
Add (deduct) adjustments:
Losses on derivative financial instruments – net, excluding hedge costs		120			159			—			—			279
MRP		11			54			—			—			65
Amortization of debt discount from debt modification		31			14			—			—			45
Core income adjustment on equity share in net income of associates and joint ventures		—						(16	)		—			(16	)
Net income attributable to noncontrolling interests		(4	)		(15	)		—			(20	)		(39	)
Foreign exchange losses (gains) – net		(161	)		(384	)		13			(12	)		(544	)
Net tax effect of aforementioned adjustments		—			39			(3	)		3			39
Total adjustments		(3	)		(133	)		(6	)		(29	)		(171	)
Consolidated core income (loss)		2,246			7,801			107			(1,261	)		8,893
Add (deduct) adjustments:
Share in MIH income		—			—			(127	)		—			(127	)
Share in Kayana losses		—			—			10			—			10
Total adjustments		—			—			(117	)		—			(117	)
Telco core income (loss)		2,246			7,801			(10	)		(1,261	)		8,776

Results of Operations

The following table shows the contribution by each of our business segments to our consolidated revenues, expenses, other income (expense), income (loss) before income tax, provision for (benefit from) income tax, net income (loss)/segment profit (loss), EBITDA, EBITDA margin, core income (loss) and telco core income (loss) for the three months ended March 31, 2026 and 2025. In each of the three months ended March 31, 2026 and 2025, majority of our revenues are derived from our operations within the Philippines. Our revenues derived from outside the Philippines consist primarily of revenues from incoming international calls to the Philippines.


	Wireless			Fixed Line			Others			Inter-segment and Consolidation Entries			Consolidated
	(amounts in million Php, except for EBITDA margin)

For the three months ended March 31, 2026
Revenues		26,145			33,932			—			(3,564	)		56,513
Expenses		21,760			25,034			1			(4,043	)		42,752
Other income (expenses) – net		(1,286	)		300			1,011			(2,529	)		(2,504	)
Income before income tax		3,099			9,198			1,010			(2,050	)		11,257
Provision for (benefit from) income tax		599			1,642			—			98			2,339
Net income/Segment profit		2,500			7,556			1,010			(2,148	)		8,918
EBITDA		13,637			15,846			(1	)		(1,194	)		28,288
EBITDA margin(1)		55	%		47	%		—			—			52	%
Core income		2,601			8,455			213			(2,176	)		9,093
Telco core income (loss)		2,589			8,183			(18	)		(2,176	)		8,578

For the three months ended March 31, 2025
Revenues		26,117			33,467			—			(4,307	)		55,277
Expenses		21,363			23,434			5			(4,253	)		40,549
Other income (expenses) – net		(1,798	)		(12	)		105			(1,219	)		(2,924	)
Income (loss) before income tax		2,956			10,021			100			(1,273	)		11,804
Provision for (benefit from) income tax		707			2,087			(13	)		(41	)		2,740
Net income (loss)/Segment profit (loss)		2,249			7,934			113			(1,232	)		9,064
EBITDA		13,706			16,449			(5	)		(2,285	)		27,865
EBITDA margin(1)		56	%		49	%		—			—			52	%
Core income (loss)		2,246			7,801			107			(1,261	)		8,893
Telco core income (loss)		2,246			7,801			(10	)		(1,261	)		8,776

Increase (Decrease)
Revenues		28			465			—			743			1,236
Expenses		397			1,600			(4	)		210			2,203
Other income (expenses) – net		512			312			906			(1,310	)		420
Income (loss) before income tax		143			(823	)		910			(777	)		(547	)
Provision for (benefit from) income tax		(108	)		(445	)		13			139			(401	)
Net income (loss)/Segment profit (loss)		251			(378	)		897			(916	)		(146	)
EBITDA		(69	)		(603	)		4			1,091			423
Core income (loss)		355			654			106			(915	)		200
Telco core income (loss)		343			382			(8	)		(915	)		(198	)

(1)

EBITDA margin for the period is measured as EBITDA divided by service revenues.

On a Consolidated Basis

Consolidated

Revenues

We reported consolidated revenues of Php56,513 million for the three months ended March 31, 2026, an increase of Php1,236 million, or 2%, as compared with Php55,277 million in the same period in 2025, primarily due to higher consolidated revenues from data and voice services, partially offset by lower consolidated non-service revenues.

Our consolidated service revenues of Php54,905 million for the three months ended March 31, 2026, increased by Php1,484 million, or 3%, from Php53,421 million in the same period in 2025. Our consolidated non-service revenues of Php1,608 million for the three months ended March 31, 2026, decreased by Php248 million, or 13%, from Php1,856 million in the same period in 2025.

Consolidated service revenues, net of interconnection costs of Php5,996 million, amounted to Php48,909 million for the three months ended March 31, 2026, a decrease of Php48 million from Php48,957 million in the same period in 2025.

The following table shows the breakdown of our consolidated revenues by service for the three months ended March 31, 2026 and 2025:


	Wireless		Fixed Line		Inter-segment and Consolidation Entries			Consolidated
			(amounts in million Php)
For the three months ended March 31, 2026
Service Revenues
Wireless		24,590				(168	)		24,422
Mobile		24,083				(154	)		23,929
Fixed Wireless broadband		493				—			493
Other services		14				(14	)		—
Fixed Line				33,879		(3,396	)		30,483
Voice(1)				9,432		(268	)		9,164
Data				24,435		(3,128	)		21,307
Home broadband				13,207		(4	)		13,203
Corporate data and ICT				11,228		(3,124	)		8,104
Miscellaneous				12		—			12
Total Service Revenues		24,590		33,879		(3,564	)		54,905
Non-Service Revenues
Sale of devices and accessories		1,555		53		—			1,608
Total Non-Service Revenues		1,555		53		—			1,608
Total Revenues		26,145		33,932		(3,564	)		56,513
For the three months ended March 31, 2025
Service Revenues
Wireless		24,391				(177	)		24,214
Mobile		23,933				(165	)		23,768
Fixed Wireless broadband		446				—			446
Other services		12				(12	)		—
Fixed Line				33,336		(4,129	)		29,207
Voice(1)				8,351		(319	)		8,032
Data				24,968		(3,810	)		21,158
Home broadband				13,285		(4	)		13,281
Corporate data and ICT				11,683		(3,806	)		7,877
Miscellaneous				17		—			17
Total Service Revenues		24,391		33,336		(4,306	)		53,421
Non-Service Revenues
Sale of devices and accessories		1,726		131		(1	)		1,856
Total Non-Service Revenues		1,726		131		(1	)		1,856
Total Revenues		26,117		33,467		(4,307	)		55,277

(1) Consolidated voice service revenues include wholesale international voice of Php5,597 million and Php4,280 million, with corresponding costs of Php5,527 million and Php4,222 million, for the three months ended March 31, 2026 and 2025, respectively.

The following table shows the breakdown of our consolidated revenues by business segment for the three months ended March 31, 2026 and 2025:


													Change
	2026			%			2025			%			Amount		%
	(amounts in million Php)
Wireless		26,145			46			26,117			47			28		—
Fixed Line		33,932			60			33,467			61			465		1
Inter-segment and Consolidation Entries		(3,564	)		(6	)		(4,307	)		(8	)		743		17
Consolidated		56,513			100			55,277			100			1,236		2


Company’s Email Address	Company’s Telephone Number/s	Mobile Number
[email protected]	(632) 8816-8056


Name of Contact Person	Email Address	Telephone Number/s	Mobile Number
Gil Samson D. Garcia	[email protected]	(632) 8816-8056


1.	For the quarterly period ended		March 31, 2026

2.	SEC Identification Number		PW-55

3.	BIR Tax Identification No.		000-488-793-000

4.	PLDT Inc.
	Exact name of registrant as specified in its charter

5.	Republic of the Philippines
	Province, country or other jurisdiction of incorporation or organization

6.	Industry Classification Code:		(SEC Use Only)

7.	Ramon Cojuangco Building, Makati Avenue, Makati City			0721
	Address of registrant’s principal office			Postal Code

8.	(632) 82500254
	Registrant’s telephone number, including area code

9.	Not Applicable
	Former name, former address, and former fiscal year, if changed since last report

10.	Securities registered pursuant to Sections 8 of the SRC

	Title of Each Class		Number of Shares of Common Stock Outstanding
	Common Capital Stock, Php5 par value		216,055,775 shares as at March 31, 2026

11.	Are any or all of these securities listed on the Philippine Stock Exchange?

	Yes [ X ]	No [ ]

12.	Check whether the registrant

(a)	has filed all reports required to be filed by Section 17 of the Code and SRC Rule 17 thereunder or Section 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of the Corporation Code of the Philippines, during the preceding 12 months (or for such shorter period the registrant was required to file such reports):

	Yes [ X ]	No [ ]

(b)	has been subject to such filing requirements for the past 90 days.

	Yes [ X ]	No [ ]


PART I –	FINANCIAL INFORMATION	1
Item 1.	Consolidated Financial Statements	1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	1
	Financial Highlights and Key Performance Indicators	2
	Performance Indicators	3
	Overview	4
	Management’s Financial Review	5
	Results of Operations	7
	Consolidated	7
	Revenues	7
	Expenses	8
	Other Income (Expenses) – Net	9
	Net Income	9
	EBITDA	9
	Core Income	9
	Telco Core Income	10
	Wireless	10
	Revenues	10
	Service Revenues	10
	Non-Service Revenues	13
	Expenses	13
	Other Income (Expenses) – Net	14
	Provision for Income Tax	14
	Net Income	14
	EBITDA	14
	Core Income	14
	Fixed Line	15
	Revenues	15
	Service Revenues	15
	Non-Service Revenues	16
	Expenses	16
	Other Income (Expenses) – Net	17
	Provision for Income Tax	17
	Net Income	17
	EBITDA	18
	Core Income	18
	Others	18
	Revenues	18
	Expenses	18
	Other Income (Expenses) – Net	18
	Net Income	18
	Core Income	18
	Liquidity and Capital Resources	19
	Operating Activities	19
	Investing Activities	20
	Financing Activities	20
	Changes in Financial Conditions	21
	Off-Balance Sheet Arrangements	22
	Equity Financing	22
	Contractual Obligations and Commercial Commitments	23
	Quantitative and Qualitative Disclosures about Market Risks	23
PART II –	OTHER INFORMATION	25
	Related Party Transactions	25
ANNEX –	Aging of Accounts Receivable	A-1
	Financial Soundness Indicators	A-2
	SIGNATURES	S-1

PLDT Inc. 6-K