GLOBE Telecom Inc. reported a 20-percent decline in its first-quarter net income to P5.554 billion from P6.975 billion a year earlier, caused primarily by the high one-off gains last year, and higher net interest expense for the period.
Despite the decline, the telco reported that its consolidated gross service revenues in the first three months of 2026 increased to P41.965 billion from P39.853 billion recorded in the same period last year, mostly due to sustained mobile data demand, continued fiber adoption, and resilient enterprise-based information and communications technology (ICT) activity.
"We are pleased to have sustained our momentum into the first quarter of 2026, delivering resilient topline growth of 5 percent year on year. The sustained demand across our mobile and broadband business, continued expansion in fiber, and the growing contribution from our digital ecosystem supported this solid start to the year,” Globe President and CEO Carl Raymond Cruz said.
Globe’s mobile business generated P30 billion in service revenues for the first three months of 2026, up 6 percent year on year, with sequential performance reflecting typical post-peak seasonality following a strong fourth quarter.
As of end-March 2026, Globe’s mobile subscriber base reached around 67 million, up by 8 percent from a year ago. Furthermore, the "Globe At Home" broadband business generated P6.2 billion in revenues in the first three months of 2026, up 6 percent year on year as growth was fueled by the expansion of wired services, offsetting the gradual tapering of its legacy fixed wireless service.
Fiber remained the dominant component of the Globe At Home portfolio, accounting for approximately 93 percent of total home broadband revenues, compared to 91 percent at end-2025. Total broadband subscribers grew to 2.2 million as of end-March 2026, driven by migration to fiber and sustained household penetration.
Meanwhile, Globe’s corporate data business recorded P5.1 billion in revenues for the first three months of 2026, also up 6 percent year on year, lifted by robust ICT performance, which increased by 17 percent.
Non-telco revenues came in at P365 million during the quarter, down by 36 percent from P567 million a year ago. The decline was primarily due to the deconsolidation of the Yondu Group following the completion of Globe’s partnership with NCS, under which Globe retained a 49 percent stake while NCS assumed majority ownership.
Excluding non-telco revenues from Yondu Group last year, non-telco revenues would have decreased by 4 percent during the period instead.
Mynt, the parent company of GCash, delivered another strong performance in the first three months of 2026, as Globe’s equity share in Mynt rose to P1.90 billion, an 8 percent increase from P1.80 billion in the same period last year.
“Moving forward, in the face of a challenging macroeconomic environment posed by the ongoing Middle East crisis, our priority is execution. This means delivering a best-in-class customer experience, operating with focus, and investing where it matters most. We will continue to expand our 5G network, deepen our fiber footprint, and scale our digital platforms to better serve the evolving needs of our customers," Cruz said.
Globe's Tuesday share price went up by P30.00 to close at P1,700.00 per share.
