Globe core net income up 9% in Q1

Ayala-led Globe Telecom Inc. reported a 9% growth in its core net income for the first quarter, driven mainly by the growth of its data and fiber businesses during the period.

Globe said its core net income grew to P4.9 billion. Its net income after tax declined by 20% to P5.6 billion due to the one-off gains from the dilution of its stake in Mynt, the parent company of GCash, in 2025.

Consolidated gross service revenues increased 5% to P42.0 billion. The mobile business — the top contributor — generated P30.0 billion, reflecting 6% growth. Mobile data revenues rose 11% to P26.8 billion.

Globe At Home broadband posted a 6% revenue growth to P6.2 billion, with fiber accounting for 93% as total broadband subscribers grew to 2.2 million.

The corporate data business recorded P5.1 billion in revenues, up 6% from the past year, led by business application solutions, cloud, and cybersecurity services.

“Moving forward, in the face of a challenging macroeconomic environment posed by the ongoing Middle East crisis, our priority is execution — delivering a best-in-class customer experience, operating with focus, and investing where it matters most,” Globe president and chief executive officer Carl Raymond Cruz said in a regulatory filing.

“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. Through focused execution and more efficient capital allocation, we are strengthening our foundation to deliver sustainable long-term value,” he added.

Globe in February said it targets low- to mid-single-digit revenue growth this year, after posting a slight decline in operating revenues and net income in 2025, amid persistent inflation and severe natural calamities. —VAL, GMA News