Ayala-owned telco Globe Telecom reported record gross service revenues of ₱165.1 billion in 2025, driven largely by strong mobile data usage and higher contributions from its fintech affiliate Mynt, the parent company of GCash.
Despite the record top-line performance, Globe said core net income declined 3% to ₱20.9 billion, while reported net income fell 4% year-on-year to ₱23.3 billion, citing higher depreciation and interest expenses during a period of heavy investments.
The company’s mobile segment remained its main revenue driver, generating ₱116.9 billion, up 5%, as rising mobile data consumption offset continued declines in voice and SMS services.
Other business segments posted modest growth. Home broadband revenue increased 1% to ₱24 billion, supported by continued fiber adoption, while corporate data revenue rose 1% to ₱20.7 billion, with ICT-related services helping offset cautious enterprise spending.
Globe’s fintech exposure also continued to expand. Equity earnings from Mynt surged 64% to ₱6.1 billion, accounting for 22% of Globe’s pre-tax net income.
Operationally, Globe reported improved efficiency. EBITDA reached ₱87.6 billion, with an EBITDA margin of 53.1%, exceeding the company’s full-year guidance of 50%. Operating expenses declined 1% to ₱77.5 billion.
The company also reduced capital expenditures by 18% to ₱46.2 billion, lowering its CAPEX-to-revenue ratio from 34% to 28% as it shifts focus toward improving free cash flow.
“Our record-breaking service revenues and the exceptional performance of Mynt underscore the resilience of our core business and our successful transition into a digital solutions platform,” Globe said in a statement.
“While higher depreciation costs impacted our bottom line this year, our focus on capital efficiency and operational excellence positions us for sustainable long-term growth.”
