Globe Telecom (GLO) Q3 2025 earnings summary

Executive summary

• Achieved fastest sequential revenue growth in 13 quarters, with 3% QoQ increase in 3Q 2025 gross service revenues to PHP 41.5B, and 9M25 revenues at PHP 121.7B, down 2% YoY, driven by data services.

• Data-centric services comprised 88% of 3Q top line; mobile data revenues hit all-time high of PHP 74B for nine months, now 86% of total mobile service revenues.

• Core net income for 9M25 was PHP 15.5B, down 12% YoY; net income for nine months reached PHP 17.7B, down 14% YoY.

• Mynt (GCash) contributed 25% of net income before tax, with equity share up 52% YoY to PHP 5.3B.

• Board approved PHP 25/share quarterly dividend, reaffirming sustainable dividend policy.

Financial highlights

• Consolidated gross service revenues for nine months at PHP 121.7B, down 2% YoY; 3Q revenues up 3% QoQ to PHP 41.5B.

• EBITDA for nine months at PHP 64.2B (margin 52.8%), down 1% YoY; 3Q EBITDA at PHP 22B, up 3% QoQ (margin 53.1%).

• Core net income for 3Q at PHP 5B, down 15% sequentially.

• Operating expenses and subsidy for nine months down 3% YoY to PHP 57.5B, with a 29% drop in marketing and subsidy expenses.

• Depreciation and amortization up 7% YoY to PHP 40B; non-operating charges at PHP 3B.

Outlook and guidance

• Service revenues guided to low to mid-single-digit growth vs. 2024; EBITDA margin guidance maintained at ~50%; capex for 2025 expected to end below $1B.

• Free cash flow before dividends turned positive in 1H, expected to remain strong through year-end.

• Continued growth expected in digital and data-centric services, with further expansion in fiber and fintech segments.