Abstract
PLDT will report its quarterly results on February 26, 2026 after market close; this preview distills the latest company metrics and near-term drivers to frame expectations for revenue, margins, net profit, and adjusted EPS alongside prevailing institutional views.Market Forecast
Formal consensus numbers for PLDT’s current-quarter revenue, gross profit margin, net profit or margin, and adjusted EPS are not publicly specified in recent disclosures, and company-specific estimates have not been provided; as a result, market participants are anchoring expectations to the latest run-rate from core segments while watching profitability mix and expense discipline for guidance. The main business remains concentrated in fixed-line services and wireless connectivity, with segment revenue scale suggesting continuity in topline trends; within the portfolio, enterprise digital and ICT solutions tied to PLDT’s technology services are seen as the most promising contributors to incremental growth, though quantifiable year-over-year data is not available.Last Quarter Review
PLDT’s previous quarter posted revenue of USD 55.28 billion, a gross profit margin of 87.53%, GAAP net profit attributable to the parent company of USD 6.93 billion, a net profit margin of 12.91%, and adjusted EPS was not disclosed; net profit on a quarter-over-quarter basis fell by 23.90% as indicated by the company’s net profit growth ratio. A key financial highlight was the robust gross margin profile, which signaled resilient cost controls against a backdrop of mixed profitability at the consolidated level. In terms of main business dynamics, fixed-line revenue reached USD 29.34 billion and wireless revenue was USD 25.94 billion, comprising 53.07% and 46.93% of the topline respectively; year-over-year segment growth rates were not provided.Current Quarter Outlook
Fixed-Line Connectivity and Broadband Revenue Dynamics
The fixed-line segment is expected to provide a stable foundation for revenue this quarter, supported by recurring subscription income and the continued monetization of broadband and enterprise access solutions. Investors will watch subscriber net adds, churn, and average revenue per user to gauge revenue quality, as pricing discipline and service bundling can support revenue per line even in periods of limited volume growth. Operating focus appears centered on sustaining premium connectivity experiences, including upgrades and value-added services for enterprise customers, which maintains revenue intensity and contributes to margin preservation. Cost efficiency around network operations and customer support will be a lever for profitability, particularly if promotional activity is calibrated to limit margin attrition while still supporting retention and targeted acquisition. The mix of higher-value accounts relative to discount bundles will be one of the determinants for whether fixed-line revenue can deliver modest sequential improvement without diluting gross margins.Wireless Revenue Drivers and Margin Trajectory
Wireless revenue this quarter will hinge on usage patterns in mobile data and the elasticity of demand relative to pricing and promotional strategies. A disciplined approach to promotions can help maintain effective yields while stimulating data consumption, placing emphasis on customer segmentation and plan optimization to minimize excess incentives. Margin trajectory in wireless will be influenced by the balance between network-related expenses and revenue per user, with capacity investments aimed at safeguarding service quality during peak loads. If the segment sustains stable ARPU and limits churn, the wireless contribution can hold close to its recent run-rate, while incremental gains may depend on targeted migration to higher-priced data bundles. Investors will parse disclosures on subscriber mix transitions, particularly any shift toward higher-value cohorts, to infer whether near-term revenue can outpace costs enough to support a steady net profit margin despite competitive pressures.Enterprise Digital, ICT Solutions, and Data Center Momentum
PLDT’s technology services anchored in enterprise digital and ICT solutions are positioned to be the most promising source of incremental growth, given customer demand for integrated connectivity, cloud, cybersecurity, and managed services. Scale effects in ICT are supportive of margin resilience because solutions can be standardized while tailored to client needs, allowing for operating leverage as adoption increases. The data center business, delivered through PLDT’s technology arm, is a meaningful opportunity as compute, storage, and security requirements intensify for domestic enterprises; demand for resilient colocation and connectivity-adjacent services can expand contracted capacity. Near-term revenue conversion will depend on large-account wins and the pace at which new capacity is brought online relative to customer onboarding timelines. If the enterprise pipeline progresses as expected, ICT revenue can show sequential improvement, and the mix shift toward higher-value managed services and cloud integration should be margin accretive compared to connectivity-only offerings.Digital Financial Services and Adjacent Monetization
Digital financial services tied to PLDT’s ecosystem have demonstrated sustained product-market fit, with consumer applications and merchant acquiring contributing to net service uptake. Complementary monetization in digital payments can augment connectivity-driven revenue, particularly when cross-sell opportunities are aligned with mobile subscriber growth and targeted offers. The quarter’s performance in this area will depend on user activation rates, transaction volumes, and take rates, as the balance of promotional spend and organic usage determines how quickly monetization scales. Where merchant solutions achieve broader penetration, recurring fee streams can stabilize revenue while reduce volatility in consumer transaction patterns. The integration of financial services within the broader digital ecosystem may encourage longer-term retention and incremental ARPU uplift, mitigating cyclicality in other segments and providing a diversified revenue base.Cost Discipline, Capex Phasing, and Profitability Mix
Gross margin resilience will be underpinned by disciplined cost management across network operations, customer care, and administrative expenses; this is critical given last quarter’s quarter-on-quarter decline in net profit. Capex phasing is central to margin and free cash flow outcomes, as timing of network investments and data center capacity can either compress near-term profitability or set the stage for operating leverage in subsequent periods. The company’s ability to prioritize high-return projects—particularly those that directly support revenue growth in enterprise ICT and data centers—will influence the current quarter’s EBIT profile. Profitability mix is poised to benefit when higher-value segments contribute a larger share of the topline, and the sustainability of gross margins is best preserved when revenue growth is driven by services with favorable unit economics. In the context of quarter-to-quarter variability, investors will monitor whether expense growth remains below revenue growth so that net margin can stabilize or improve from last quarter’s levels.Revenue Mix, Pricing Strategy, and Stock Price Sensitivities
The stock’s near-term performance is likely to be sensitive to signals on revenue mix between fixed-line, wireless, and enterprise ICT, as each segment carries distinct margin profiles and growth pathways. Pricing strategy is an immediate lever: measured adjustments to tariffs and bundling can improve revenue quality while protecting churn, and disclosures on promotional intensity will be read as indicators of margin direction. A favorable mix shift toward enterprise and ICT revenue can elevate gross margins, but investors will watch whether sales cycles convert swiftly enough to show up in the quarter’s results rather than later periods. Any commentary on cost controls and capex prioritization will also be instrumental for interpreting the EBIT trend, particularly if spending on capacity is phased in a manner that does not disrupt near-term profitability. As a result, the extent to which management communicates progress on enterprise contracts, data center utilization, and cross-sell traction will frame expectations for adjusted EPS even if the company does not provide formal numerical guidance.Analyst Opinions
Bullish views dominate the collected commentary, with the ratio of bullish to bearish opinions at 100% in favor of the upside. A Wall Street analyst at Bank of America reiterated a Buy rating on PLDT, highlighting strategic positioning and financial resilience as core reasons for constructive near-term expectations; while specific forecast figures were not released in the available commentary, the emphasis was on stability in core revenue streams and upside potential from enterprise digital initiatives. The positive view is grounded in the notion that margin structure can remain supported by cost discipline and that growth opportunities in ICT and data center services may add incremental profitability over time. From an investor’s perspective, the key takeaway is that the business model’s diversification—spanning fixed-line connectivity, wireless services, and enterprise solutions—offers multiple avenues to defend margins while seeking topline expansion. The bullish stance, therefore, rests on the belief that steady connectivity revenues combined with higher-value technology services can offset periodic variability and provide a pathway for EBIT and EPS traction as the revenue mix evolves.In analyzing these opinions, it is notable that the framework prioritizes the quality of revenue rather than sheer volume growth; this aligns with the margin profile observed last quarter, where gross margin remained robust despite a quarter-on-quarter decline in net profit. The constructive angle suggests that incremental progress in enterprise ICT adoption can translate into revenue that is less promotional and more annuity-like, supporting both gross margin and operating income. Pricing discipline in wireless and rational investment in fixed-line capabilities are also cited as stabilizers, helping to ensure that net profit margin avoids further compression if expense growth remains contained. Investors interpreting the Buy rating should focus on the operational evidence: consistent service metrics, prudent capex phasing, and clear indications of enterprise pipeline conversion—signals that underpin confidence in near-term earnings. Given the absence of formal numeric guidance for the quarter, the majority view prefers to triangulate from the recent margin performance and the expected contribution from higher-value segments, which together form a credible basis for anticipating measured improvement in profitability.