Globe Telecom reported a robust start to the year as its core net income climbed 9% to ₱4.9 billion in the first quarter of 2026, driven by a surge in mobile data and enterprise service demands.
In a financial statement released Tuesday, the telecommunications giant revealed that consolidated gross service revenues grew 5% to ₱42 billion. The mobile segment remained the primary engine of growth, contributing ₱30 billion—a 6% increase from the previous year.
The company attributed this momentum to a digital-first Filipino lifestyle.
”Mobile data revenues, in particular, hit ₱26.8 billion because of strong, sustained data use for video streaming, social media, gaming, and payments.”
Beyond mobile services, Globe’s diversified portfolio showed steady gains:
- Home Broadband: Revenues reached ₱6.2 billion as the market shifted toward high-speed fiber internet.
- Corporate Data: This sector jumped 6% to ₱5.1 billion, fueled by rising demand for cloud services, cybersecurity, and business applications.
Despite the strong core performance, Globe’s net income after tax saw a 20% year-on-year decline to ₱5.6 billion. The company explained that this drop was not due to operational weakness but rather the absence of “last year’s one-off gains from the dilution of Globe’s stake in Mynt following the Mitsubishi UFJ Financial Group (MUFG) investment, as well as tower sale gains, and higher net interest expense.”
This quarterly uptick follows a challenging 2025, where the company’s annual net income dipped 4% to ₱23.3 billion—despite hitting record revenues of ₱165.1 billion—due to elevated depreciation and interest costs.