Globe posts record nine-month revenues of ₱129 billion, but net income falls 7%

Globe Telecom booked record consolidated gross service revenues of ₱129.0 billion for the first nine months of 2026, up 6% from ₱121.7 billion a year earlier, according to results published by Edge Davao.

All three main businesses grew. Mobile service revenues rose 6% to an all-time high of ₱91.4 billion, driven by mobile data, which climbed 10% to ₱81.2 billion. Home broadband under Globe At Home increased 6% to ₱18.9 billion, while corporate data revenues rose 10% to ₱16.5 billion. Data-related services now make up about 90% of gross service revenues, the company said.

Third-quarter service revenues reached ₱43.6 billion, 1% higher than the previous quarter. Mobile and home broadband each grew 2% quarter-on-quarter, offset partly by a 7% drop in corporate data, which Globe attributed mainly to lower domestic data revenues.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) reached a nine-month record of ₱68.0 billion, up 6%, with a margin of 52.7%. Reported net income after tax, however, fell 7% to ₱16.5 billion from ₱17.7 billion. Globe cited higher depreciation and net interest expense, as well as one-off gains booked last year from tower sales and the dilution of its stake in Mynt, the parent of GCash. Core net income was broadly flat at ₱15.5 billion. Mynt accounted for 28% of Globe's net income before tax for the period.

Globe's mobile subscriber base stood at about 66.9 million at end-September, with 39.8 million mobile data users. Home broadband subscribers totalled about 2.5 million, with fiber subscribers up 30% year-on-year.

The company spent ₱35.8 billion on capital expenditures, 14% more than a year ago. It added 1,481 new 5G sites and 128,732 fiber-to-the-home lines in the nine months, and said its 5G network covers over 98% of the outdoor population in Metro Manila and key cities in the Visayas and Mindanao.

President and CEO Carl Raymond R. Cruz said the company is mindful of "persistent inflationary pressures and tighter household budgets" heading into the fourth quarter, but added that connectivity remains an essential household expense and that seasonal demand could help support growth.