Higher depreciation and net interest expenses, coupled with nonrecurring gains booked in the previous year, dragged down Globe Telecom’s net income by 7 percent to P16.5 billion in the first nine months of 2026 from P17.7 billion a year earlier, offsetting gains from stronger demand for mobile data, fiber broadband, and corporate connectivity.
Despite the decline in reported earnings, consolidated gross service revenues reached P129 billion for the nine months ended September, up 6 percent from P121.7 billion a year earlier. Data-related services accounted for about 90 percent of total service revenues.
Mobile and home broadband revenues each grew 6 percent, while corporate data advanced 10 percent to a record P16.5 billion, reflecting continued demand for connectivity and digital solutions.
Mobile data remained the biggest growth driver, generating P81.2 billion, up 10 percent year-on-year. Data traffic increased to 5,705 petabytes from 4,846 petabytes, while average monthly usage per subscriber climbed to 17 gigabytes from 15 gigabytes.
Home broadband revenues reached P18.9 billion, supported by the shift to fiber. Fiber subscribers increased 30 percent, while total home broadband subscribers reached 2.5 million at end-September.
The stronger service revenues lifted nine-month EBITDA by 6 percent to a record P68 billion, with the margin holding at 52.7 percent, above the company’s approximately 50-percent full-year guidance.
Core net income, which excludes certain nonrecurring items, remained broadly unchanged at P15.5 billion, highlighting how stronger operating performance was offset by a heavier financing and depreciation burden.
Globe spent P35.8 billion on capital expenditures, up 14 percent, with 89 percent allocated to data-related requirements. It retained its full-year capital spending guidance of below USD1 billion.
President and CEO Carl Raymond Cruz said seasonal demand could support fourth-quarter growth, although inflation and tighter household budgets remain risks.
