Globe profit falls on flat revenue

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February 5, 2026 | 12:00am

MANILA, Philippines — Globe Telecom Inc. has fallen into another year of profit decline, marked by a flat performance from its revenue drivers that offset the growth of its e-wallet arm GCash.

Based on its financial report, Globe’s net income went down by four percent to P23.26 billion in 2025, from P24.29 billion in 2024, suffering another year of profit reduction.

Although spending was cut by three percent to P90.62 billion, this only mitigated the one-percent dip in the telco’s revenue to P178.24 billion.

Globe’s mobile segment, its primary earner, ended flat with P165.08 billion, and the telco closed the year with double-digit revenue declines in fixed voice and non-telco services. The company, however, grew broadband and corporate revenues by one percent.

The bright spot for Globe is that GCash is looking stronger now more than ever. GCash parent Globe Fintech Innovations Inc. (Mynt) turned in an equity share of P6.1 billion to Globe.

As of 2025, Mynt contributes more than a fifth of Globe’s pre-tax profit, as its e-wallet cements its role as the country’s largest player in the financial technology space.

In spite of the profit decline, Globe president and CEO Carl Raymond Cruz is confident that the telco could rebound in 2026 on the combination of fiscal prudence and national expansion.

Under Cruz’s watch, Globe wants to become the most profitable telco in the Philippines, a crown held by telco giant PLDT Inc.