Tovic Salvador

Article (news)

Globe Telecom. Mark Demayo, ABS-CBN News

Arthur Fuentes

ABS-CBN News

MANILA — Globe Telecom said its net income fell 14 percent to P12.4 billion in the first half of the year, while revenues also dipped.  The company said this figure already included the P2.6 billion gross gain booked from MUFG’s acquisition of an 8 percent stake in GCash&#x27;s operator Mynt, alongside higher equity earnings from affiliates. Globe said these gains helped temper the impact of higher depreciation, interest expense, and non-operating charges.  &quot;Stripping out one-off items, normalized net income amounted to P10.0 billion, or 16 percent lower year-on-year. Excluding non-recurring items such as gains from the Mynt disposal, tower sale and leaseback, and foreign exchange and mark-to-market adjustments, Globe’s core net income reached P10.4 billion, 11 percent lower than P11.7 billion in the same period last year,&quot; the company said.Consolidated revenues also dipped to P80.2 billion in the first half of 2025, compared to P82.2 billion in the same period last year, Globe said.The Ayala-led telco however touted gains made in the second quarter, as consolidated gross service revenues reached P40.3 billion, or one percent higher than the first quarter, fueled by improving mobility and stronger digital engagement across segments.Meanwhile, Mynt, the parent company of GCash, maintained strong performance delivering P3.8 billion in equity earnings to Globe in the first half. This was a 78 percent jump from P2.1 billion in the same period last year, and now makes up 26 percent of Globe&#x27;s pre-tax net income, the telco said.  “Our second quarter performance underscores the growing impact of our cost and operational efficiency efforts.  The sequential growth in revenues, core net income, stable margins, and rising contributions from Mynt reflect not just financial discipline but the operational strength of our entire organization,” said Globe President and CEO Carl Raymond Cruz.Meanwhile, cash capital expenditures for the first six months also declined 33 percent to P18.9 billion, which Globe said was &quot;consistent with  the company’s ongoing efforts to optimize capital deployment while sustaining critical investments in network infrastructure.&quot; <div><iframe width="640" height="360" src="https://www.youtube.com/embed/DWD9NmAAiWI?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe> </div>

Globe Telecom said its net income fell 14 percent to P12.4 billion in the first half of the year, while revenues also dipped.

Globe Telecom said its net income fell 14 percent to P12.4 billion in the first half of the year, while revenues also dipped.

Globe net income, revenues dip in first half even as GCash surges

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Globe net income, revenues dip in first half even as GCash surges

Arthur Fuentes,

ABS-CBN News

Published August 06, 2025 03:38 PM PHT

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