. While inflation eased and household spending capacity has generally improved in recent months, the operating environment remains challenging. Persistent industry competition and the localized economic impact of the typhoons that struck during the period added further pressure. Against this backdrop, Globe sustained the rebound that began in the second quarter, posting ₱41.5 billion in consolidated gross service revenues in the third quarter, a 3% sequential increase underscoring operational resilience and improved market momentum. The revenue uptrend continues, posting the fastest sequential growth in 13 quarters.
Globe’s expanding digital portfolio drove growth, demonstrating its vital role in an increasingly connected economy. Mobile and corporate data services accounted for 83% of total consolidated service revenues in the first nine months of 2025, similar to last year. Meanwhile, data-centric products spanning mobile data, home broadband, and enterprise solutions, rose to 88% of total consolidated service revenues from 86% a year ago.
Globe’s mobile business remained the main driver of topline performance, generating ₱86.2 billion in service revenues as of end-September 2025, down 2% from the ₱87.7 billion posted a year earlier. Mobile service revenues in the third quarter reached ₱29.1 billion, up1% quarter-on-quarter from ₱28.8 billion in Q2, marking a second consecutive quarter of sequential improvement. This robust trajectory reflects stronger consumer activity and demand for mobile services. Performance was further supported by Globe’s consistent investments in its network, which enhanced service quality and reinforced its market position. By the end of September 2025, Globe’s mobile subscriber base stood at 63.1 million, 5% higher than the 60.2 million a year ago.
Within the mobile segment, mobile data revenues climbed to an all-time high of ₱25.2 billion in the third quarter of 2025, bringing total mobile data revenues to a record ₱74.0 billion for the first nine months of the year. This represents a 2% increase year-on-year from the previous record of ₱72.9 billion reported in the same period of 2024, as Filipinos continued to expand their use of apps for messaging, entertainment, and cashless transactions. This was achieved even as total mobile data traffic held steady at 4,846 petabytes versus 4,843 petabytes in the same period last year, reinforcing Globe’s ability to drive higher value per gigabyte of data consumed. Following a muted first quarter in terms of traffic, usage showed an upward trend, rising by 8%from 1,537 petabytes in the first quarter to 1,659 petabytes by the third quarter. The average volume of use per subscriber remained stable at around 15GB per month, supported by consistent engagement and rising 5G traffic and its growing adoption across Globe’s customer base.
As of end-September 2025, Globe had 37.8 million mobile data users, up 2% year-on-year, highlighting the segment’s strength and resilience as consumer activity improved alongside easing inflation. Mobile data now accounts for 86% of total mobile service revenues, up from 83% a year earlier, showcasing Globe’s expanding digital scale and effective monetization as connectivity becomes even more essential to everyday life.
While mobile data posted strong performance, traditional voice and SMS services, on the other hand, maintained their structural decline, consistent with the industry-wide pivot to data-centric usage. Average daily mobile reloads showed steady quarter-on-quarter increases throughout the nine months this year, with the third quarter delivering the highest level to date. This consistent upward trend shows strong consumer engagement and resilient spending momentum across the prepaid base.
Globe’s home broadband segment contributed ₱17.8 billion in revenues for the nine months ended September 2025, broadly flat year-on-year, as the ongoing tapering of the fixed wireless business was partly offset by the migration of subscribers to fiber. Home broadband revenues rose 4%quarter-on-quarter to ₱6.1 billion in the third quarter, signaling stabilization as fiber adoption deepened across the base.
GFiber Prepaid (GFP) continued to gain remarkable traction in the third quarter, solidifying its standing as the country’s fastest-growing prepaid fiber service. GFP subscribers hit 700K by end-September, up 28% quarter-on-quarter and over 3.7x from a year ago. The brand continues to resonate with households through its affordable and flexible fiber offers, driving wider adoption across segments. At the same time, higher-value reload activity pushed ARPU upward, with average daily top-ups surging more than 4.2xin 3Q25 versus the 2024 average. The outperformance of GFiber Prepaid highlights Globe’s successful execution in democratizing fiber access for more Filipino homes.
Fiber now makes up 91% of total home broadband revenues, compared to 86% a year earlier, underscoring the growing demand for GFiber Prepaid alongside postpaid plans. Total fiber revenues rose 5% year-on-year, while the fiber subscriber base expanded by 44%, bringing Globe’s total broadband subscribers to 2.1 million as of September 2025, from 1.7 million in the prior year.
To meet rising demand for flexible, high-speed connectivity suited to modern digital lifestyles, Globe expanded its product portfolio with the launch of a breakthrough offering: the Globe At Home 5G Loop. Since its launch in September, the Globe At Home 5G Loop has seen encouraging early take-up, signaling growing interest in flexible, high-speed connectivity. Available exclusively in select Globe stores, the 5G Loop offers fiber-like speeds, unlimited internet both at home and on the go, and an easy, plug-and-play setup perfect for today’s always-on digital lifestyles. A first in the world, the 5G Loop features a WiFi router with an Android touchscreen interface, high-quality speakers, and long-lasting batteries that keep users connected even on the beach or wherever they choose to call home. Globe continues to gather insights and enhance the 5GLoop experience to deliver a seamless and reliable connection for its customers .
Meanwhile, the corporate data business posted ₱15.0 billion in revenues for the nine-month period ended September 2025, a 3% year-on-year decline driven by a 13% drop in core data services amid more measured enterprise spending. However, this was partially offset by the 14% year-on-year increase in ICT-related services, fueled by sustained demand for Business Application Solutions, cybersecurity, data center solutions, Big Data, and IoT. Sequentially, corporate data revenues rose 13% quarter-on-quarter to ₱5.4 billion in the third quarter, signaling an emerging rebound in enterprise digitalization efforts. This improvement aligns with Globe’s strategy to evolve beyond connectivity and deliver innovative, technology-led solutions that address the rapidly changing needs of its enterprise customers.
Non-telco revenues amounted to₱1.7 billion, down 4% from the previous year, with softer results from AdSpark partly balanced by stronger contributions from Yondu and Asticom. Similarly, the third quarter non-telco revenues dropped by 3% from the second quarter mostly coming from Yondu.
Globe’s cost management initiatives delivered meaningful efficiencies, with total operating expenses and subsidy amounting to ₱57.5 billion for the first three quarters of 2025, down 3% year-on-year. The decline was led by a 29% reduction in marketing and subsidy expenses, a 7% decrease in staff costs, and a 4% drop in services and others. Utilities and administrative expenses remained broadly flat, rising just 1%. These efficiencies helped offset increases in interconnect costs(+16%), leases (+8%), and provisions (+6%). However, on a sequential basis, operating expenses and subsidy rose 3%to ₱19.4 billion in the third quarter, mainly on higher spending across many expense categories except for leases, repairs and maintenance, and provisions.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) over the same period reached ₱64.2billion, a 1% decrease from the prior year. Even with this marginal dip, Globeposted a healthy EBITDA margin of 52.8%, again exceeding full-year guidance through prudent cost management.
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 months ended September 2025, Globe’s equity share in Mynt rose to ₱5.3 billion, a 52%increase from ₱3.5 billion in the same period last year. This contribution now accounts for 25% 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.
For the nine months ended September 2025, Globe recorded a net income of ₱17.7 billion, down 14% from₱20.6 billion in the same period last year. This figure includes non-recurring items, such as gains from the deemed disposal of Mynt shares (related to MUFG’s equity investment in the first quarter) and higher equity earnings from affiliates. 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, down15% year-on-year. On a quarterly basis, net income declined by 4% 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 ₱17.6billion in the same period last year. Ona 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% from₱249.5 billion at year-end 2024, driven by prudent funding activities to support ongoing investments. Leverage metrics remained comfortably within covenant thresholds, with Gross Debt to EBITDA at 2.69x, Net Debt to EBITDA at 2.40x, and a Debt Service Coverage Ratio of 3.74x, highlighting the disciplined capital management and strong balance sheet resilience.
“Our third-quarter results underscore Globe’s consistent performance and our ability to create impact beyond connectivity for more Filipino families and businesses. Mobile and broadband sustained their growth momentum in Q3, while Corporate Data revenues rose 13% quarter-on-quarter, signaling an emerging rebound in enterprise digitalization efforts, and EBITDA margins remained above target, highlighting the strength of our core operations. 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.
“Looking ahead, our focus remains firmly on our customers, with our key differentiator being the ability to elevate their experience and strengthen loyalty. We view the accelerated B2B growth as the next engine of Globe's sustainable expansion. We remain steadfast in our vision of becoming the most valuable, trusted, and admired operator in the country in the medium term, by investing in world-class connectivity and driving innovations that help build a more inclusive and digitally empowered Philippines.” Cruz added. PR
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