---
title: "First Pacific Highlights Slight Earnings Dip at Key Telecom Associate PLDT in Q1 2026"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286358797.md"
description: "First Pacific Co. reported a slight earnings dip from its telecom associate PLDT for Q1 2026. PLDT's revenues increased to 56.51 billion pesos, but net income fell to 8.92 billion pesos due to rising costs. Earnings per share also decreased to 40.98 pesos. First Pacific holds a 25.57% interest in PLDT, and these results may impact profit contributions and capital allocation decisions for the company. PLDT's financials are crucial for First Pacific shareholders, reflecting stable operations despite the earnings contraction."
datetime: "2026-05-14T04:37:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286358797.md)
  - [en](https://longbridge.com/en/news/286358797.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286358797.md)
---

# First Pacific Highlights Slight Earnings Dip at Key Telecom Associate PLDT in Q1 2026

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First Pacific Co ( (HK:0142) ) just unveiled an announcement.

First Pacific has disclosed that its major operating associate, Philippine telecoms group PLDT Inc., has released unaudited consolidated financial results for the quarter ended 31 March 2026, prepared under Philippine financial reporting standards and denominated in pesos. First Pacific and its Philippine affiliates hold a 25.57% attributable economic interest in PLDT, whose quarterly figures have been filed with bourses in Manila, New York and Hong Kong, providing updated visibility on earnings and financial position that are relevant to First Pacific shareholders given PLDT’s contribution to the group.

PLDT reported revenues from contracts with customers of 56.51 billion pesos for the first quarter of 2026, up slightly from 55.28 billion pesos a year earlier, with service revenues growing and non-service revenues declining. Net income edged down to 8.92 billion pesos from 9.06 billion pesos, as higher depreciation, amortization and interconnection costs offset topline growth, implying a modest year-on-year earnings contraction that may temper profit contributions to First Pacific while still reflecting relatively stable operating performance in its telecoms associate.

Income before tax fell to 11.26 billion pesos from 11.80 billion pesos, with other expenses netting 2.50 billion pesos versus 2.92 billion pesos in the prior-year quarter. Basic and diluted earnings per share attributable to PLDT’s common equity holders slipped to 40.98 pesos from 41.71 pesos, signaling slightly weaker per-share profitability that investors in both PLDT and First Pacific will monitor for its implications on returns and potential capital allocation decisions.

**More about First Pacific Co**

First Pacific Company Limited is a Hong Kong-listed investment management and holding company incorporated in Bermuda, with significant interests in telecommunications and other sectors across Asia. Its key Philippine associate is PLDT Inc., a major telecoms operator whose shares trade on the Philippine Stock Exchange and whose American Depositary Receipts are listed on the New York Stock Exchange.

**Average Trading Volume:** 4,930,050

**Technical Sentiment Signal:** Buy

**Current Market Cap:** HK$24.01B

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