Globe keeps spending steady amid crisis concerns

Globe Telecom Inc. is keeping its network expansion and infrastructure investments on track despite growing macroeconomic uncertainties and geopolitical tensions abroad.

Globe President and CEO Carl Cruz said at a virtual media briefing on Wednesday that the company will continue investing in its network to improve customer experience and support rising demand for data services.

“For Globe, we will continue to build the network to provide the best experience for our subscribers. For 2026, we will continue to build in line with our 2026 plans,” Cruz said.

“Keep in mind our investments will remain focused on supporting very strong demand for data and overall experience,” he added.

Globe earlier said it intends to keep its capital expenditures at around $1 billion, largely allocated for data-related services and network expansion.

Cruz added that the company is taking a disciplined approach to spending amid ongoing global uncertainties, including tensions in the Middle East.

“In lieu of the crisis, we are taking a very disciplined approach, prioritizing areas and builds with high impact. We will optimize network technology such as AI alongside our green network initiatives,” Cruz said.

From January to March, Globe’s net income fell 20 percent year-on-year to P5.6 billion from P7 billion, due to higher net interest expenses and the absence of one-off gains recorded last year, despite continued core business growth.

The decline in net income after tax was primarily due to last year’s gains from the dilution of Globe’s stake in Mynt following the MUFG investment, as well as tower sale gains. However, these were partly offset by stronger equity earnings from affiliates.