For the nine months ended September 2025, Globe recorded a net income of ₱17.7 billion, down 14 percent from ₱20.6 billion in the same period last year on higher financing costs and lower revenues, among others.
The telco arm of the Ayala group also delivered ₱121.7 billion in consolidated gross service revenues for the first nine months of 2025, slightly lower than the ₱124.0 billion reported in the same period last year.
These helped partly offset increased depreciation, interest expense, and other non-operating charges. Excluding such one-off items, normalized net income reached ₱15.2 billion, down 15 percent year-on-year.
On a quarterly basis, net income declined by 4 percent to ₱5.3 billion, from ₱5.5 billion in the previous quarter as the increase in the topline was offset by higher depreciation and non-operating charges. Core net income, which strips out non-recurring items including gains from asset disposals, forex movements, and mark-to-market adjustments, amounted to ₱15.5 billion, compared to ₱17.6 billion in the same period last year.
On a sequential basis, core earnings declined to ₱5.0 billion in the third quarter of 2025 from ₱5.9 billion in the second quarter, primarily due to higher financing costs and lower equity contributions from affiliates.
Globe’s financial position stayed robust, with total debt at ₱253.5 billion as of September 2025, up 2 percent from ₱249.5 billion at year-end 2024, driven by prudent funding activities to support ongoing investments.
Mynt, the parent company of GCash, delivered another strong performance in the first nine months of 2025, reinforcing its standing as the Philippines’ leading digital financial ecosystem. GCash continued to scale its user base and profitability, extending inclusive financial services to millions of Filipinos through constant innovation.
For the nine-month period ended September 2025, Globe’s equity share in Mynt rose to ₱5.3 billion, a 52 percent increase from ₱3.5 billion in the same period last year. This contribution now accounts for 25 percent of Globe’s net income before tax, marking a sharp rise from its 14% share in 2024. Mynt’s growth complements Globe’s sustained investments in digital infrastructure and connectivity.
“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,” said Carl Raymond R. Cruz, President and CEO of Globe Telecom Inc.
