Globe Telecom Inc. reported Friday that its net income for the first nine months of 2025 fell by 14 percent, citing operating environment challenges.
The Ayala-led telecommunications company posted a net income of P17.7 billion in the January-to-September period, down from P20.6 billion in the same period last year. The company attributed the lower earnings to intense industry competition and localized economic disruptions caused by typhoons.
Core net income, which excludes non-recurring items such as gains from asset disposals, forex movements and mark-to-market adjustments, was P15.5 billion, down from P17.6 billion a year earlier.
“Our third-quarter results underscore Globe’s consistent performance and our ability to create impact beyond connectivity,” said Carl Raymond Cruz, Globe president and chief executive. “Mobile and broadband sustained their growth momentum in the third quarter, while corporate data revenues rose 13 percent quarter-on-quarter, signaling an emerging rebound in enterprise digitalization efforts.”
Cruz added that Mynt (Globe’s fintech platform) continued to be a key contributor to earnings, “reaffirming the expanding role of our digital platforms.”
Consolidated gross service revenues for the first nine months of 2025 reached P121.7 billion, slightly lower than the P124 billion reported in the same period last year.
Globe’s mobile business remained the main driver of topline performance, generating P86.2 billion in service revenues as of end-September 2025, down 2 percent from the P87.7 billion posted a year earlier.
Its home broadband segment contributed P17.8 billion in revenues for the nine-month period ended, while, corporate data business posted P15.0 billion in revenues during the period.
Non-telco revenues fell 4 percent to P1.7 billion, with softer results from AdSpark partially offset by stronger contributions from Yondu and Asticom.
Globe’s equity share in Mynt rose to P5.3 billion in the first nine months, a 52 percent increase from P3.5 billion last year. This contribution now accounts for 25 percent of Globe’s net income before tax, up sharply from its 14 percent share in 2024.
Globe’s cash capital expenditures (capex) reached P31.4 billion as of the end of September 2025, a 23 percent decrease from P41 billion last year. The company cited a sharper focus on strategic capital management in line with its full-year capex guidance of below $1 billion.
Globe reported significant progress in network expansion, building a total of 1,375 new cell sites and upgrading 8,699 existing mobile sites. The company also rolled out 60,193 fiber-to-the-home (FTTH) lines and reinforced its 5G footprint by deploying 877 new 5G sites.
By the end of September 2025, outdoor coverage reached 98.71 percent of Metro Manila and 98.31 percent of key cities in Visayas and Mindanao.
