SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-Q

QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES
REGULATION CODE AND SRC RULE 17(2)(b) THEREUNDER

1. For the quarterly period ended

Sep 30, 2014

2. SEC Identification Number

34218

3. BIR Tax Identification No.

000153610000

4. Exact name of issuer as specified in its charter

AYALA CORPORATION

5. Province, country or other jurisdiction of incorporation or organization

Makati City, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

32F to 35F, Tower One and Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City Postal Code 1226

8. Issuer's telephone number, including area code

(632) 908-3000

9. Former name or former address, and former fiscal year, if changed since last report

Not applicable

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Preferred A (net of 12,000,000 treasury shares)	0
Preferred B (net of 38,000,000 treasury shares)	20,000,000
Voting Preferred	200,000,000
Common	600,628,410
Debt outstanding as of Sept 20, 2014 (in billions)	40

11. Are any or all of registrant's securities listed on a Stock Exchange?

Yes

No

If yes, state the name of such stock exchange and the classes of securities listed therein:

A total of 596,194,295 Common shares, and 20,000,000 Preferred “B” shares are listed with the Philippine Stock Exchange as of September 30, 2014.

12. Indicate by check mark whether the registrant:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17 thereunder or Sections 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 twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes

No

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

Yes

No

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Ayala CorporationAC

PSE Disclosure Form 17-2 - Quarterly Report References: SRC Rule 17 and
Sections 17.2 and 17.8 of the Revised Disclosure Rules

For the period ended	Sep 30, 2014
Currency (indicate units, if applicable)	in Thousand Pesos

Balance Sheet

	Period Ended	Fiscal Year Ended (Audited)
	Sep 30, 2014	Dec 31, 2013
Current Assets	234,663,641	211,487,944
Total Assets	682,324,579	599,664,300
Current Liabilities	146,789,797	145,207,693
Total Liabilities	423,857,219	364,193,709
Retained Earnings/(Deficit)	105,252,024	92,639,781
Stockholders' Equity	258,467,360	235,470,591
Stockholders' Equity - Parent	78,637,375.14	74,365,279.02
Book Value per Share	246.37	230.68

Income Statement

	Current Year (3 Months)	Previous Year (3 Months)	Current Year-To-Date	Previous Year-To-Date
Operating Revenue	37,555,380	35,621,888	114,458,328	99,832,517
Other Revenue	5,740,465	5,157,240	19,998,737	15,544,756
Gross Revenue	43,295,845	40,779,128	134,457,065	115,377,273
Operating Expense	29,698,610	29,342,484	93,007,404	81,066,574
Other Expense	3,612,172	3,700,309	11,350,282	10,538,897
Gross Expense	33,310,782	33,042,793	104,357,686	91,605,471
Net Income/(Loss) Before Tax	9,985,063	7,736,335	30,099,379	23,771,802
Income Tax Expense	2,175,472	1,551,766	5,802,080	4,976,341
Net Income/(Loss) After Tax	7,809,591	6,184,569	24,297,299	18,795,461
Net Income Attributable to Parent Equity Holder	4,254,287	3,128,673	14,052,998	10,432,209
Earnings/(Loss) Per Share (Basic)	6.87	5	22.76	16.8
Earnings/(Loss) Per Share (Diluted)	6.82	4.96	22.62	16.68

Other Relevant Information
Please see attached SEC17Q as of September 30, 2014