Globe Telecom has started 2025 with strong momentum, following a banner year marked by record-breaking financial results and continued leadership in digital innovation.
The company reported its highest-ever service revenues in 2024, hitting P165 billion, a 2% increase from the previous year.
The growth was led by robust performance in mobile and corporate data services. Mobile business revenues reached a historic P116.7 billion, driven by a surge in mobile data usage, which accounted for 83% of total mobile revenues—up from 81% in 2023.
Corporate data revenues also surged by 11% to P20.4 billion, while the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed 7% to P86.8 billion—also a record high. The EBITDA margin rose to 52.6%, surpassing expectations amid cost-control efforts and efficiency gains.
Core net income after tax (NIAT) grew 14% to Php21.5 billion, with normalized NIAT up 13% to P21.7 billion. Capital expenditures declined 20% to P56.2 billion, in line with guidance, as the company prioritized network optimization and financial sustainability.
“We are starting 2025 with a stable financial foundation and a disciplined focus on execution,” said Carlo Puno, Globe’s Chief Financial Officer. “Our strong 2024 performance gives us the confidence to sustain results and create long-term impact.”
Looking ahead, Globe is positioning itself to deepen its leadership in digital services. The company expects continued growth in mobile and corporate data as more Filipinos rely on digital platforms for daily life and business.
With 37.4 million mobile data users out of 60.9 million total subscribers by end-2024, Globe is leveraging this scale to pursue its 2025 vision—anchored on innovation, financial strength, and purpose-driven investment.
“Globe’s strategy in 2025 is about going forward together with every Filipino, powered by technology, inclusion, and a strong financial core,” Puno added.
READ MORE TECH AND BUSINESS NEWS.
