Globe Telecom Inc. on Wednesday reported a 4-percent decline in its 2025 net income as elevated depreciation and interest expenses weighed on the company despite achieving record-high service revenues.
The Ayala-led telecommunications provider posted a net income of P23.3 billion last year, down from P24.3 billion in 2024. Core net income, which excludes non-recurring items such as asset sales and foreign exchange movements, fell to P20.9 billion from P21.5 billion in the previous year.
Despite the bottom-line dip, consolidated gross service revenues reached a record P165.1 billion in 2025, surpassing the previous peak set in 2024.
Fourth-quarter revenues also hit a record P43.4 billion, a 5-percent increase from the third quarter, led by higher mobile data usage and broadband demand.
Globe Telecom president and chief executive Carl Raymond Cruz said the results reflected a resilient year for the company.
“Coming off a record 2024, we gathered momentum in the last three quarters following a soft start and delivered a record performance in 2025, reaffirming the strength and adaptability of our core business. The sustained pace across mobile, broadband and corporate data, coupled with disciplined cost management, enabled us to achieve positive free cash flow while continuing to invest in network quality and customer experience,” Cruz said.
The mobile business segment posted all-time high revenues of P116.9 billion, up from P116.7 billion in 2024. The company’s mobile subscriber base grew 8 percent to 65.8 million users by the end of 2025.
Home broadband revenues rose 1 percent to P24 billion as the growth of fiber services offset the decline in legacy fixed wireless offerings. Corporate data revenues also reached a record P20.7 billion, representing a 1 percent increase from the previous year.
The company’s non-telecom portfolio saw revenues drop 12 percent to P2.3 billion on weaker advertising results from AdSpark and lower Asticom revenues. However, Globe Telecom equity share in Mynt, the parent company of GCash, reached P6.1 billion and accounted for 22 percent of the group’s pre-tax income.
Globe Telecom reduced its cash capital expenditures by 18 percent to P46.2 billion in 2025, down from P56.2 billion in 2024. This aligned with the company’s strategic goal to keep capital spending below $1 billion.
“Our 2025 results provide a solid springboard for 2026, as we deepen our focus on creating everyday impact for our customers. We will further enhance our 5G footprint, broaden GFiber Prepaid’s reach and scale our digital ventures such as GCash and enterprise solutions to meet the consumer’s evolving demands,” Cruz said.
