The Philippine Stock Exchange (PSE) Q3 2025 earnings summary

Executive summary

• 9M 2025 revenue rose 92.22% YoY to P2.005B and net income increased 15.39% to P738.81M, with PDSHC consolidation driving much of the expansion.

• Q3 revenue more than doubled to P692.12M, while net income declined to P230.79M from P242.23M as the quarter included a P49.52M FVTPL mark-to-market loss.

Financial highlights

• 9M operating income was P942.20M versus P424.88M YoY; income before tax reached P1.024B, up 36.30%.

• 9M expenses rose 71.92% to P1.063B, while other income fell 75.01% to P81.52M, mainly from weaker investment fair values and higher interest expense.

• Q3 operating income increased to P335.62M from P118.27M; net income was P230.79M versus P242.23M YoY.

• 9M net income attributable to parent equity holders was P683.13M; basic and diluted EPS were P8.34 versus P7.83 YoY.

• Total assets were P8.48B at Sep. 30, 2025, up 20.48% from Sep. 30, 2024; operating cash flow was P1.195B for 9M.

Outlook and guidance

• Planned capital projects include a Nasdaq Eqlipse Trading upgrade with pre-trade risk, advanced options pricing and index-calculation functions, plus flexible deployment and cloud options.

• CMIC signed a US$300,000 agreement for Nasdaq Market Surveillance software and related services; funding, including hardware, is from appropriated retained earnings.