Globe Telecom opened 2026 with stronger revenues and operating profits as rising mobile data usage, expanding fiber adoption, and growing digital finance contributions helped cushion the impact of a challenging economic environment.
The Ayala-led telecommunications and financial technology giant reported consolidated gross service revenues of P42 billion in the first quarter, up 5 percent from a year earlier, driven largely by its increasingly data-centered business. Data-related services now account for 91 percent of Globe’s total service revenues, up from 87 percent last year, underscoring the company’s accelerating shift away from traditional voice and text services.
Despite stronger operating performance, reported net income fell 20 percent to P5.6 billion due largely to the absence of one-time gains booked last year and higher interest expenses. Core net income, however, increased 9 percent to P4.9 billion, reflecting sustained strength in Globe’s core operations.
Mobile operations remained Globe’s largest earnings driver, generating P30 billion in revenues, up 6 percent year-on-year. Mobile data revenues alone climbed 11 percent to P26.8 billion as customers spent more time on video streaming, social media, gaming, and digital payments. Mobile data traffic surged 18 percent, while average monthly data usage per subscriber rose to 16 gigabytes.
Globe’s mobile subscriber base expanded 8 percent to about 67 million users, supported by wider 5G adoption and continued network investments.
Its home broadband business also posted steady growth, with revenues rising 6 percent to P6.2 billion as more households shifted to fiber internet. GFiber Prepaid subscribers reached one million by end-March, highlighting growing demand for flexible and affordable internet services.
Meanwhile, Globe’s enterprise data business grew 6 percent to P5.1 billion, fueled by stronger demand for cloud computing, cybersecurity, and digital business applications.
The company’s digital ecosystem continued to boost profitability. Globe’s share in the earnings of Mynt, operator of the GCash platform, rose 8 percent to P1.9 billion and now accounts for 30 percent of Globe’s pre-tax income.
