Globe Telecom Inc., the Philippines' largest mobile operator by subscribers, posted a four percent decline in full-year earnings for 2025 as the company grappled with persistent inflationary pressures and string of natural disasters that dampened consumer spending.

In a disclosure to the Philippine Stock Exchange, Globe said its net income fell by around ₱1 billion from January to December last year, to ₱23.26 billion from ₱24.29 billion in 2024, even as revenues climbed to a new record high and spending was reduced.

The company’s revenues increased slightly from the previous record of ₱165.01 billion to ₱165.07 billion last year.

Costs and expenses, meanwhile, fell three percent to ₱90.62 billion from ₱93.77 billion.

Aside from industry competition, last year was challenging for Globe as it faced weaker consumer spending due to persistent inflation, compounded by typhoons and earthquakes.

Despite this, Globe’s core services remained largely resilient, supported by steady momentum in mobile data usage, broadband, and enterprise solutions.

The mobile business was the main driver of the company’s topline, driven by robust consumer demand, resulting in a record ₱116.85 billion in revenue.

The company continues to lead the industry in mobile subscribers, at 65.8 million last year, up eight percent from 60.9 million in 2024.

Home broadband revenues increased by a notch to ₱23.98 billion from the previous year’s ₱23.79 billion, driven by sustained fiber adoption, which offset weaker contributions from fixed wireless services.

Globe’s fiber service now accounts for 91 percent of the segment’s revenues, positioning it as the country’s fastest-growing prepaid fiber service.

In addition, revenues from corporate business generated an all-time high of ₱20.67 billion in 2025, fueled by stable demand in information and communications technology (ICT).

Another major contributor last year was the equity earnings of Globe Fintech Innovations Inc. (Mynt), the parent firm of e-wallet GCash, which accounted for ₱6.1 billion or around 22 percent of Globe’s pre-tax income.

“Mynt was a significant contributor to Globe’s earnings and a cornerstone of its digital ecosystem, supporting the country’s ongoing digital and financial inclusion efforts,” said Globe.

For 2026, Globe President and Chief Executive Officer (CEO) Carl Raymond Cruz expects GCash to remain a strong asset for the company, alongside its 5G footprint and enterprise solutions.

“Our 2025 results provide a solid springboard for 2026, as we deepen our focus on creating everyday impact for our customers,” said Cruz.

Globe is aiming to keep its free cash flow positive this year through prudent resource allocation, building on the momentum from the first half of last year.

The company slashed its capital expenditures by 18 percent last year to ₱46.2 billion from ₱56.2 billion in 2024, in line with its full-year guidance of below $1 billion.

For the year, Globe is keeping capex less than $1 billion as part of its broader effort to capitalize on optimization and extract greater returns from previous network investments.

This aligns with efforts to generate free cash flow while optimizing investments in critical infrastructure to drive long-term growth and service quality.

Globe projects revenue this year to grow between the low and mid single-digit range, reinforced by growth across existing product platforms and continued momentum in its core services.

“As digital becomes part of daily life, Globe's mission remains clear: to anticipate our customers' needs and deliver meaningful innovation that improves lives, empowers communities, and supports the country's broader push toward digitalization and inclusive growth,” said Cruz.