Globe Telecom sustained its growth momentum in the first quarter of 2026, with the strong performance of fintech arm GCash helping offset pressure from a challenging macroeconomic environment and ongoing tensions in the Middle East.
Financial Highlights
Globe reported consolidated service revenues of P42 billion in the January-to-March period, up five percent year-on-year, driven by sustained mobile data demand, fiber broadband growth and resilient enterprise activity. EBITDA rose 7 percent to P22.2 billion, while core net income climbed nine percent to P4.9 billion.
GCash Performance
GCash parent Mynt emerged as a key earnings driver during the quarter. Globe's equity share in Mynt increased 8 percent to P1.9 billion from P1.8 billion a year earlier and surged 120 percent from the previous quarter. Mynt now accounts for 30 percent of Globe's pre-tax income, up from 22 percent in 2025.
Globe said GCash maintained its position as the country's top finance super app, supported by expanding payments, lending, investment and overseas digital services. The platform now operates in over 220 countries and territories through GCash Visa Card and Global Pay.
Net Income Impact
Despite strong operating results, reported net income fell 20 percent to P5.6 billion due to the absence of one-off gains booked last year and higher interest expenses.
