Globe Telecom Inc. reported consolidated gross service revenue of ₱39.9 billion for 1Q 2025, marking a 3 percent decline year-on-year amid macroeconomic headwinds and market softness. Despite the topline pressure, the telco sustained strong digital momentum, with data-driven services now accounting for 87 percent of revenue—up from 85 percent in 1Q 2024.
Mobile revenue slid 3 percent to ₱28.3 billion, maintaining a steady 71 percent share of service revenue. Within this, mobile data revenue rose 1 percent year-on-year to ₱24.1 billion, driven by increasing mobile app usage, even as data traffic fell 5 percent annually due to temporary mobility constraints and extreme weather. Mobile subscribers grew 5 percent year-on-year to 61.6 million.
Home broadband revenue declined 5 percent to ₱5.8 billion, mainly from the drop in fixed wireless usage. However, fiber revenue surged, now making up nearly 90 percent of broadband income, as Globe expanded its fiber subscriber base by 26 percent. GFiber Prepaid saw a 53 percent quarter-on-quarter rise in subscribers, hitting 400,000.
Corporate data revenue edged down 2 percent to ₱4.9 billion, weighed by a 15 percent dip in core data services. Still, growth in ICT services, including cybersecurity and IoT, partially offset this.
EBITDA slipped 3 percent to ₱20.8 billion, with a margin of 52.1 percent—exceeding full-year guidance. Core net income, however, dropped 22 percent to ₱4.5 billion, mainly on higher interest expenses. Net income rose 3 percent to ₱7.0 billion, aided by an ₱1.8 billion equity share in Mynt’s earnings and a ₱2.6 billion gain from Mynt-related transactions. Excluding non-recurring items, normalized net income would have been ₱4.6 billion, down 21 percent.
Capital expenditure was cut by 38 percent to ₱8.5 billion, enhancing capital efficiency, with 92 percent of investments channeled to data infrastructure. Debt fell 3 percent to ₱242 billion, with strong gearing ratios and compliance with all covenants.
CEO Carl Cruz emphasized Globe’s pivot toward digital leadership: “While topline challenges persist, our robust digital platforms, disciplined execution, and strategic investments position us well for long-term growth.”
