Globe Telecom Inc. remains on track to meet its full-year revenue guidance of low to mid-single digit growth, buoyed by improving quarterly momentum across all business segments, its president said last week.
Carl Cruz, the president and CEO of Globe, told reporters that the company is sticking to its guidance, citing strong performance across operational metrics.
‘I think the good thing with our results-all our ‘controllables,’ whether it’s revenue or cost, they are in a very good space at least sequentially,’ he said. ‘So, I’m very optimistic.’
For the nine months, ending September, Globe reported consolidated gross service revenues of P121.7 billion, slightly below the P124 billion posted in the same period last year.
Globe’s net income dropped by 14 percent to P17.7 billion, while core net income stood at P15.5 billion compared to P17.6 billion in the same period last year.
However, the consecutive quarterly improvements have bolstered management’s confidence in meeting the full-year target.
Globe posted its fastest sequential revenue growth in 13 quarters, with third-quarter consolidated gross service revenues reaching P41.5 billion-a 3-percent increase from the second quarter’s P40.3 billion.
‘The momentum is building from quarter two to quarter three,’ Cruz said. ‘From a revenue lens, all businesses, all segments are growing. Quarter three would be the fastest sequential growth, quarter on quarter basis, in the last 13 quarters.’
All major business segments contributed to the third-quarter uptick. Mobile service revenues increased 1 percent quarter-on-quarter to P29.1 billion. Home broadband revenues climbed 4 percent to P6.1 billion, and corporate data surged 13 percent to P5.4 billion.
‘We’re hoping that we will really end the year on a very strong footing, which is quarter four,’ Cruz said.
Looking ahead, Cruz confirmed that Globe will maintain capital expenditures (capex) below $1 billion for 2026, continuing the disciplined spending approach adopted this year.
‘About less than a billion dollars in cash capex-that’s the guidance,’ Cruz said. ‘This is reviewed on a regular basis. If there’s a need to actually increase, the shareholders are always willing to have a conversation about that.’
The 2026 target is a continuation of Globe’s capital optimization strategy aimed at strengthening free cash flow generation while maintaining essential network investments.
For January to September, cash capex reached P31.4 billion, down 23 percent from P41 billion in the same period last year.
‘We have to make sure that both the P and L and the balance sheet are in a very good space,’ Cruz said. ‘If we need to actually put that down, we do that ourselves.’