Globe posts PHP 5.6B profit drop, PHP 4.9B core net gain

Ayala-led Globe Telecom saw weaker earnings at PHP 5.6 billion in the first quarter of 2026, down 20 percent from a year ago's PHP 7 billion.

File photo: Globe Telecom logo

Higher revenues booked in January-March

In a statement, the company said the drop in net income was due to last year's one-off gains from the dilution of Globe’s stake in Mynt following the investment from Japanese bank Mitsubishi UFJ Financial Group (MUFG), as well as tower sale gains.

Its core net income, however, improved by 9 percent to PHP 4.9 billion.

For the January to March period, Globe said it had booked PHP 42 billion in consolidated gross service revenues, 5 percent higher than a year ago.

Data-driven services, such as mobile internet, fiber broadband, and enterprise solutions, now account for 91 percent of the topline.

The group's mobile business continued as the growth driver, generating PHP 30 billion in service revenues. As of the end of March, its mobile subscriber base was around 67 million.

Globe At Home also posted PHP 6.2 billion in revenues for the first three months, 6 percent higher from a year ago. Total broadband customers rose to 2.2 million.

The company's corporate data business, meanwhile, logged PHP 5.1 billion in revenues.

We are pleased to have sustained our momentum into the first quarter of 2026, delivering resilient topline growth of 5 percent year-on-year. This was driven by disciplined execution and prudent cost management… Sustained demand across mobile and broadband, continued expansion in fiber, and the growing contribution from our digital ecosystem supported this solid start to the year, said its president and CEO Carl Raymond Cruz.

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