Globe keeps revenue growth guidance for 2026

GLOBE TELECOM, INC. said it is maintaining its low- to mid-single-digit revenue growth guidance for 2026 after posting strong first-quarter (Q1) core earnings growth, although the company remains cautious about risks arising from the ongoing conflict in the Middle East.

“Our first quarter would be the second highest growth quarter on record, this gives us the confidence to maintain really our low to mid-single digit growth,” Globe President and Chief Executive Officer Carl Raymond R. Cruz said during the company’s financial briefing on Wednesday.

He said Globe continues to monitor external risks, particularly the war in the Middle East, which could affect the company’s operating costs. He said sustained pressure from these risks could cause results to trend toward the lower end of the company’s guidance range.

For the first quarter, Globe posted an attributable net income of P5.55 billion, down 20.49% from P6.98 billion a year earlier, as higher expenses offset revenue growth during the period.

Core net income, however, rose 9% year on year to P4.93 billion, while consolidated gross service revenues increased 5% to P41.97 billion.

The company’s capital expenditures surged 51% to P12.74 billion during the quarter as Globe accelerated investments in network expansion and capacity enhancements.

Mr. Cruz said Globe is maintaining its full-year capital expenditure guidance of below $1 billion for 2026.

“I think for Globe, we will continue to build the network. We will continue to build in line with our 2026 plans. Our investments will remain very focused,” he said.

In January, Globe announced a partnership with Elon Musk’s Starlink to bring direct-to-cell satellite services to the Philippines.

The company said it is currently preparing for the commercial launch of the service, which it plans to initially make available to Android users, subject to regulatory approvals.

Globe had earlier targeted a commercial launch by the end of March.

Separately, Globe said it has restored mobile and broadband services in affected areas in Metro Manila and Luzon following service disruptions caused by fiber cuts.

“Our teams worked continuously to resolve the issue and minimize disruption for our customers. We highly value the availability of our services and the trust our customers place in us, and incidents like this underscore the importance of strict adherence to established coordination and communication protocols by contractors prior to any excavation activities,” Globe Head of Service Planning and Engineering Joel R. Agustin said.

The company said it is investigating the series of fiber cuts affecting multiple areas and is assessing whether the incidents were coincidental or carried out in succession.

Shares in Globe rose P30, or 1.76%, to close at P1,730 apiece on Wednesday. — Ashley Erika O. Jose