Globe reaches financial goal ahead of schedule

Globe Telecom achieved positive free cash flow in the first half of 2025, reaching the key financial goal earlier than its year-end target. The company said the accomplishment was a result of a focus on financial discipline, optimized capital spending, and strong operational performance.

The announcement comes as the company reported a 1 percent quarter-over-quarter growth in gross service revenues, driven by improved mobility and increased digital engagement.

"We're very pleased with our performance in the second quarter," Globe president and CEO Carl Cruz said. "This turnaround really indicates stability and a solid footing for the company, with which we can build upon for better growth in the second half of the year."

On the other hand, chief finance officer Carlo Puno said the company is ensuring it has "the right amount of capital for all our initiatives," as part of a broader effort to diversify funding and optimize its capital structure.

Globe's mobile business remained its largest revenue source, while home broadband saw a 1 percent quarterly growth, boosted by an increasing demand for fiber. The company also continued its network expansion, adding 937 new cell sites and upgrading 4,512 mobile sites to LTE.

It also rolled out 444 new 5G sites, extending outdoor coverage to more than 98 percent in Metro Manila and key cities in Visayas and Mindanao.

Globe is also in the final phase of its tower sale and leaseback program. It has transferred 6,945 towers to date, generating approximately P89.3 billion in proceeds.

"We are optimistic that this momentum shall continue in the next quarters," chief commercial officer Darius Delgado said.