Globe bottom line down in Q3 2025

Ayala-led Globe Telecom Inc. reported a decline in its bottom line for the third quarter of 2025, as higher depreciation and non-operating charges offset the growth of its revenues during the period.

In a regulatory filing, Globe said its third-quarter net income fell 4% to P5.3 billion from P5.5 billion the previous quarter, while its core net income—which excludes non-recurring items—dropped to P5.0 billion from P5.9 billion.

Consolidated gross service increased 3% to P41.5 billion, driven mainly by the mobile business that generated P28.8 billion as subscribers grew to 37.8 million. The home broadband segment accounted for P6.1 billion, and corporate data for P5.4 billion.

This brought year-to-date net income down 14% to P17.7 billion and core net income down to P15.5 billion from P17.6 billion, as revenues fell to P121.7 billion from P124.0 billion.

Mynt or Globe Fintech Innovations Inc., the parent company of GCash, accounted for 25% of Globe’s net income before tax, higher than the 14% share in 2024. Globe’s share in Mynt also increased by 52% to P5.3 billion.

“Mynt continued to be a key contributor to earnings, reaffirming the expanding role of our digital platforms. Together, these pillars demonstrate how Globe continues to drive sustainable growth and long-term value through innovation, disciplined execution, and a deep commitment to the communities we serve,” Globe president and chief executive officer Carl Raymond Cruz said in a regulatory filing released Friday.

“Looking ahead, our focus remains on our customers, with our key differentiator being the ability to elevate their experience and strengthen loyalty,” he added.

Cruz in April said Globe is still keen on the maiden share sale of GCash, with the timing dependent on the preparation for what is targeted to be the “most successful” initial public offering in the Philippine market. It was earlier reported to seek at least $8 billion in valuation in going public. —VAL, GMA Integrated News