Globe Telecom Inc. announced a 20% drop in profit for the first quarter of 2026, reporting a net income of P5.6 billion, down from P7 billion a year prior.
The decline is attributed to the absence of one-off gains from tower sales and dilution of its ownership in Mynt, though core services showed resilience.
In a statement, Globe described the current economic environment as "challenging," yet core net income rose 9% to P4.9 billion, driven by strong demand for mobile data, fiber broadband, and enterprise connectivity.
Consolidated service revenues increased by 5% to P42 billion, largely fueled by higher mobile data consumption and steady broadband demand.
Globe's mobile segment reported a 6% revenue rise to P30 billion, with mobile data revenues growing 11% to P26.8 billion, now comprising 89% of total mobile revenues.
Broadband and Corporate Data Performance
The Globe At Home broadband segment also saw a revenue increase of 6% to P6.2 billion, thanks to the growing adoption of fiber technology.
Additionally, corporate data revenues rose by 6% to P5.1 billion, bolstered by increased demand for cloud services and cybersecurity solutions.
We are pleased to have sustained our momentum into the first quarter of 2026,” said Globe president and CEO Carl Cruz. “Sustained demand across mobile and broadband supported this solid start to the year.
Globe Telecom
Globe’s equity share in Mynt, the parent company of GCash, increased by 8% to P1.9 billion, contributing significantly to the company’s pre-tax income.
Future Outlook
Cash flow, as indicated by earnings before interest, taxes, depreciation, and amortization, reached P22.8 billion, marking a 1% rise year-on-year.
Despite the profit decline, capital expenditures soared by 51% to P12.7 billion as Globe ramped up investments in fiber and 5G infrastructure.
Looking ahead, Globe plans to continue its network expansion efforts, even amidst rising costs linked to global conflicts.
Our priority is execution—delivering a best-in-class customer experience, operating with focus, and investing where it matters most,” Cruz added.
Globe Telecom