Consolidated gross service revenues climbed to a new all-time high of ₱85.4 billion for the six months ended June 2026, growing 6% from ₱80.2 billion in the same period of 2025 and surpassing the previous record of ₱82.8 billion achieved in the latter half of 2024. Data-driven revenues accounted for 91% of consolidated service revenues, highlighting Globe's continued transformation toward a more diversified, higher-quality, and sustainable revenue base.
The robust first-half results were further supported by Globe's record quarterly service revenues. Consolidated service revenues reached ₱43.4 billion in the second quarter, up 3% quarter-on-quarter and at par with the seasonally strong fourth quarter of 2025, reflecting broad-based growth across Globe's core connectivity businesses.
Globe's mobile business remained the largest contributor to service revenues, generating ₱60.4 billion in the first half of 2026, up 6% from the same period last year. Second quarter mobile service revenues increased 2% quarter-on-quarter to ₱30.4 billion, representing the second-highest quarterly mobile revenues on record. Mobile data continued to power the segment, rising 1% quarter-on-quarter to ₱27.1 billion and bringing first-half mobile data revenues to ₱53.9 billion, up 10% year-on-year. Mobile data now accounts for 89% of total mobile service revenues. As of end-June 2026, Globe’s mobile subscriber base stood at around 67.7 million, supported by accelerating digital adoption, network quality improvements, and customer engagement initiatives.
Mobile data revenue improvement was supported by portfolio monetization and optimization initiatives, as well as the firm demand for digital lifestyle applications, including video streaming, social media, gaming, e-commerce, productivity and AI applications, and digital payments, demonstrating Globe's ability to monetize rising data consumption despite a more cautious consumer spending environment. Mobile data traffic soared to 3,723 petabytes from 3,187 petabytes a year earlier, while average monthly data usage per subscriber rose to approximately 17 GB from 15 GB over the same period. This was complemented by Globe's expanding 5G customer base, whose users continue to exhibit higher data usage and stronger monetization than non-5G subscribers.
As of end-June 2026, Globe's mobile data user base expanded to over 39.6 million, up 5% from a year ago, as customers increasingly incorporated digital services into their everyday activities. Average daily mobile top-ups and daily wireless traffic remained elevated throughout the first half of 2026, reinforcing connectivity's role as the Filipinos' fifth utility, with Globe serving as a key enabler of the country's digital lifestyle.
Globe At Home broadband generated ₱12.4 billion in revenues during the first six months of 2026, up 6% year-on-year. Second quarter revenues totaled ₱6.3 billion, up 1% quarter-on-quarter, extending its streak to five consecutive quarters of sequential revenue increases and four consecutive quarters of year-on-year expansion, reinforcing the segment's sustained operating momentum.
Broadband performance was mainly driven by Globe's fiber business. Wired broadband subscribers increased 32% year-on-year to over 2.0 million, more than offsetting the decline in legacy fixed wireless subscribers as households increasingly migrated to superior fiber connectivity. This favorable shift toward fiber strengthens the broadband business by supporting sustainable revenue growth and enhancing the overall quality of the subscriber base.
GFiber Prepaid (GFP) maintained its momentum into the second quarter, underscoring the increasing adoption of fiber connectivity. As of end-June 2026, GFP subscriber count reached 1.1 million, reflecting the growing preference for Globe's flexible and affordable prepaid fiber service. This was further propelled by higher-value reloads, reinforcing Globe's strategy of scaling sustainably while maximizing long-term customer value and profitability.
Fiber remained the dominant component of the Globe At Home portfolio, accounting for approximately 93% of total home broadband revenues, compared to 91% at end-2025 and 90% a year earlier. Total broadband subscribers grew to 2.4 million as of end-June 2026, driven by migration to fiber and broader household adoption.
Meanwhile, Globe Business sustained its positive trajectory, with Corporate Data revenues posted a record ₱5.9 billion in the second quarter of 2026, bringing first-half revenues to an all-time high of ₱11.0 billion, up 15% year-on-year. Both the year-on-year and quarter-on-quarter gains were driven by higher Core Data revenues, led by domestic internet services, alongside continued strength in ICT, primarily from Business Application Solutions (BAS). As enterprises advance their transformation journeys, Globe Business is expanding its portfolio of AI-enabled solutions and infrastructure capabilities to deliver higher-value enterprise solutions that help clients enhance operational efficiency and unlock new opportunities.
Globe's non-telco business generated ₱863.0 million in revenues during the first half of 2026, compared to ₱1.2 billion in the same period last year. The reported decline was primarily due to the deconsolidation of Yondu following Globe's partnership with NCS, partly offset by higher revenues from Asticom. Excluding Yondu's contribution in the prior-year period, non-telco revenues would have increased by 17% year-on-year. On a quarter-on-quarter basis, non-telco revenues grew 37% to ₱498 million in the second quarter from ₱365 million in the first quarter, driven mainly by stronger contributions from Asticom.
Against a more volatile macroeconomic backdrop, total operating expenses and subsidy amounted to ₱40.5 billion, up 6% year-on-year, primarily due to higher interconnection charges, lease-related costs, marketing and subsidy, as well as increases in services and other operating expenses, utilities, and staff costs. These were partly offset by a 25% decline in provisions, which helped moderate the overall increase in operating expenses.
EBITDA reached ₱44.9 billion in the first six months of 2026, increasing 6% year-on-year, while EBITDA margin remained resilient at 52.6%, well above the Company's full-year guidance of approximately 50%. The increase in revenues more than offset the rise in operating expenses and subsidy, generating operating leverage that enabled Globe to invest in its network and digital infrastructure. In the second quarter, EBITDA edged up 2% from the previous quarter to ₱22.7 billion.
Complementing the strength of its core business, Globe also benefited from Mynt, the parent company of the group behind GCash. Mynt continued to scale its user base and profitability, extending inclusive financial services to millions of Filipinos through constant innovation. Mynt’s quarterly revenues hit an all-time-high in the second quarter of 2026, reaching ₱22.4 billion. For the six-month period ended June 2026, Globe’s equity share in Mynt’s net income amounted to ₱3.7 billion. This contribution now accounts for 28% of Globe’s net income before tax, up from 26% share in 2025, underscoring Mynt’s role as a key earnings driver, supporting Globe’s sustained investments in digital infrastructure and connectivity.
Reported Net Income After Tax (NIAT) for the first half of 2026 declined 11% to ₱11.0 billion from ₱12.4 billion a year ago, primarily due to the lower net gain from the dilution of Globe's stake in Mynt compared to the prior year, as well as higher non-operating charges. Excluding these factors, Globe's underlying operating performance remained healthy, supported by record service revenues and higher EBITDA. Sequentially, reported NIAT remained broadly stable at ₱5.5 billion, compared to ₱5.6 billion in the first quarter.
Core Net Income, which excludes the impact of foreign exchange and mark-to-market adjustments, improved 7% quarter-on-quarter to ₱5.3 billion from ₱4.9 billion in the first quarter, highlighting the improving trajectory of the Company's underlying earnings. For the first half, Core Net Income stood at ₱10.2 billion, down 2% from a year ago.
Globe maintained a healthy financial position as of the end of the first half of 2026, with total debt standing at ₱261.7 billion to support its ongoing investments and strategic priorities. The company's leverage profile remained well within covenant limits, with gross debt-to-EBITDA at 2.68x, net debt-to-EBITDA at 2.48x, and a debt service coverage ratio of 3.94x.
"Our first-half results demonstrate the strength of our core business and the solid contribution of our digital ecosystem to Globe's overall performance. We delivered record service revenues and maintained an EBITDA margin of 52.6%, despite a challenging macroeconomic environment. These results reflect disciplined execution, the resilience of our business model, and our unwavering focus on creating sustainable long-term value for our customers and shareholders.” said Carl Raymond R. Cruz, President and CEO of Globe Telecom Inc.
“As we look ahead, we are committed to shaping Globe's next phase of growth by strengthening our leadership in connectivity while expanding our portfolio of products and services to deliver solutions that make a real difference in people's lives and help businesses thrive. We will invest in our network, technology platforms, and AI-enabled capabilities to improve customer experience, operate more efficiently, accelerate innovation, and help build a more connected and digitally inclusive Philippines.” Mr. Cruz added.
Cash Capex, Network and Infrastructure Updates
Globe invested ₱26.3 billion in capital expenditures during the first six months of 2026, up 39% year-on-year, as the Company pursued a disciplined capital allocation strategy while focusing investments on strategic network expansion and digital infrastructure to meet the evolving needs of its customers. Globe remains on track to keep full-year capital expenditures below US$1 billion, maintaining financial flexibility to support its long-term priorities.
Capital expenditures represented 31% of service revenues during the period. Approximately 91% of total capex was directed toward data-related initiatives, reinforcing the Company's commitment to expanding network capacity, enhancing service quality, and supporting the country's growing digital connectivity
needs.
During the first six months of the year, Globe expanded its fiber footprint by deploying 80,052 new fiber-to-the-home (FTTH) lines, extending high-speed broadband access to more households nationwide. These deployments improve network reach and reliability while addressing increasing demand for fixed broadband services.
Globe also accelerated the rollout of its 5G network, adding 878 new sites during the period to further strengthen coverage and capacity. As of end-June 2026, Globe's 5G network provided over 98% outdoor population coverage across Metro Manila and key cities in the Visayas and Mindanao. In addition, Globe expanded its 5G footprint in non-key cities by adding 43 more towns, bringing the total to 215 towns with at least 80% population coverage, further broadening access to next-generation digital services.
Internationally, Globe expanded its 5G roaming footprint to 200 inbound and 188 outbound roaming partners across 130 destinations, enabling customers to stay seamlessly connected while traveling overseas.
Globe's investments in network infrastructure are translating into tangible improvements in customer experience. Based on Ookla®1 Speedtest Intelligence® data for Q1–Q2 2026, Globe has been recognized as the Most Consistent Mobile and Fixed Network in the Philippines and The Widest 5G Coverage in the Philippines. This recognition reinforces Globe's network leadership and its commitment to delivering a reliable and consistent connectivity experience for customers nationwide.
Through its expanding digital infrastructure, Globe is broadening access to connectivity, enabling innovation, and contributing to United Nations Sustainable Development Goal 9: Industry, Innovation and Infrastructure.
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