Globe Telecom Inc. expects the momentum of its core telecommunications business to carry into the second half and lift its full-year bottom line, after reported earnings fell 11 percent in the first six months of 2026.
In a press briefing on Monday, Globe CFO Carlo Puno said the Ayala-led telco is confident that the second half would offset the first-half decline.
‘We are very much optimistic about the balance of the year given the very good performance of the core telco business in the first half of 2026,’ Puno said. ‘We do believe we should be able to leverage all of the momentum that we delivered in the first half to be able to turn that into upside to the second half of 2026, which should help buoy the bottom-line performance from a full-year perspective.’
Globe’s reported net income after tax slipped 11 percent to P11 billion in the six months to June 2026 from P12.4 billion a year earlier, according to its disclosure to the Philippine Stock Exchange (PSE).
The company traced the decline mainly to a smaller net gain from the dilution of its stake in Mynt Inc., the parent firm behind mobile wallet GCash, alongside higher non-operating charges.
Core net income-which excludes foreign exchange movements and mark-to-market adjustments-stood at P10.2 billion, down 2 percent year-on-year, a far narrower drop that management has pointed to as the truer measure of the business.
Pressed on how macroeconomic conditions and external issues would shape the full-year result, Puno declined to give a figure but said the first-half showing of the core business gave management reason to expect a positive impact on full-year profit.
‘Despite all of the macroeconomic headwinds we faced in the first half of 2026, you saw our core telco business perform quite well. We do believe that we should be able to actually leverage this and to be able to carry this momentum in the second half of 2026 – thereby being able to potentially impact positively the bottom line of full year.’
For Globe President Carl Cruz, the priority for the rest of the year is turning network and platform spending into revenue.
‘Monetization remains very, very important, and this is a key focus area for everyone at Globe in the second half of the year,’ Cruz said.
He said the company’s priorities are to strengthen monetization, deepen customer engagement, and expand the reach and quality of its network and digital platforms.
‘We will stay disciplined in capital allocation, focused in execution, and committed to delivering long-term value for our customers, shareholders, and, of course, the communities that we serve.’