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Ayala-backed Globe Telecom Inc. reported a 20 percent profit decline due to missing one-off tower sales gains and dilution of its stake in Mynt, despite growth in it core telecom business.
In a disclosure on Tuesday, Globe said its net income reached P5.6 billion in the first three months of 2026 from P7 billion a year earlier, amid what it described as a “challenging macroeconomic backdrop.”
Core net income, however, rose 9 percent to P4.9 billion, supported by sustained demand for mobile data, fiber broadband and enterprise connectivity services.
Consolidated service revenues climbed 5 percent to P42 billion during the quarter, driven mainly by higher mobile data consumption, resilient broadband demand and growth in corporate data services.
