Globe Telecom Inc. reported a 14 percent drop in net income for the first nine months of 2025, citing tough industry competition and economic disruptions from typhoons. The Ayala-led telco posted P17.7 billion in net income from January to September, down from P20.6 billion a year earlier.
Core net income, which excludes one-time gains and adjustments, fell to P15.5 billion from P17.6 billion. Consolidated gross service revenues slipped slightly to P121.7 billion from P124 billion. Globe’s mobile business remained the main revenue driver at P86.2 billion, while home broadband and corporate data contributed P17.8 billion and P15 billion, respectively.
Non-telco revenues reached P1.7 billion, down 4 percent from last year, though Mynt, Globe’s digital finance platform, grew 52 percent to P5.3 billion, now accounting for a quarter of pre-tax net income.
Globe’s cash capital expenditures fell 23 percent to P31.4 billion as the company prioritized strategic network investments. During the period, it built 1,375 new cell sites, upgraded 8,699 existing sites, deployed 60,193 fiber-to-the-home lines, and rolled out 877 new 5G sites. Outdoor 5G coverage now reaches nearly 99 percent of Metro Manila and key cities in Visayas and Mindanao, with Globe maintaining extensive international roaming agreements.
Globe president and CEO Carl Raymond R. Cruz highlighted continued growth in mobile, broadband, corporate data, and digital platforms, saying the results demonstrate the company’s focus on innovation, disciplined execution, and long-term value creation.
