Globe service revenues hit record P129B

Globe Telecom Inc. posted record service revenues of P129 billion in the first nine months of 2026, up 6% year-on-year, as growth in mobile, home broadband and corporate data services lifted its earnings.

The company also recorded its highest nine-month earnings before interest, taxes, depreciation and amortization (EBITDA) at P68 billion, a 6% increase from P64.2 billion a year earlier. Its EBITDA margin stood at 52.7%.

Mobile service revenues climbed 6% to a record P91.4 billion, while home broadband revenues also rose 6% to P18.9 billion. Corporate data revenues increased 10% to a record P16.5 billion.

Globe President and CEO Carl Raymond Cruz said the results reflected the company’s focus on customer engagement, revenue generation and investments.

“EBITDA increased 6% to a new nine-month high of P68.0 billion, while our margin remained healthy at 52.7%. These results reinforce our confidence that our focus on customer engagement, monetization, and disciplined investment is building a stronger foundation for long-term value creation,” Cruz said.

Reported net income after tax, however, declined 7% to P16.5 billion from P17.7 billion last year, mainly due to higher depreciation and net interest expenses, as well as non-recurring gains recorded in 2025. Core net income remained broadly unchanged at P15.5 billion.

Globe invested P35.8 billion in capital expenditures during the period, up 14%, with about 89% allocated to data-related requirements and network infrastructure.

The company’s mobile subscriber base reached 66.9 million, while GCash parent Mynt contributed 28% of Globe’s net income before tax during the nine-month period.

Cruz said the company expects inflation and tighter household budgets to weigh on consumer spending, but anticipates stronger seasonal demand in the fourth quarter.