Globe Telecom’s 2024 Financial Performance Hits Record High

Globe Telecom sustains strong momentum in 2025, building on a year of solid financial gains and operational performance while continuing to lead with innovation in the delivery of digital services.

​Carlo Puno, Globe’s Chief Financial Officer, said the company continues to work on meeting its cash flow targets for the year and maintain the steady results across its core businesses. 
 
“Globe is beginning 2025 with a stable financial foundation and very clear priorities. We continue to execute with discipline while maximizing the value of our portfolio. This puts us in a favorable position to deliver consistent results and drive long-term impact,” Puno shared.
 
The company’s positive outlook builds on its standout performance last year, having achieved record highs across key financial indicators.
 
Growth is expected to continue in mobile and corporate data services, which have proven to be reliable drivers of revenue and profitability.
 
In 2024, Globe’s service revenues reached an all-time high of P165 billion, up 2% year-on-year, led by the strength of mobile and corporate data. 
 
Corporate data also posted a record, growing 11% to P20.4 billion, while Mobile Business revenues reached a record P116.7 billion, with mobile data revenues reaching an all-time high of P97.4 billion, up 7% from the previous year. This growth was fueled by Filipinos’ increasing reliance on mobile applications for various online activities. As a result, mobile data now accounts for 83% of total mobile revenues, up from 81% in 2023.
 
Mobile data users totaled 37.4 million out of 60.9 million subscribers by year-end.
 
Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 7% to P86.8 billion, the highest in Globe’s history. The EBITDA margin stood at 52.6%, exceeding guidance, as the company tightened costs and improved efficiency despite inflationary challenges. 
 
Core net income after tax (NIAT) climbed 14% to P21.5 billion, with normalized NIAT at P21.7 billion, up 13%. 
 
Capital expenditure was P56.2 billion, down 20% in line with guidance. This demonstrates Globe’s careful balance between optimizing its network and ensuring financial sustainability.
 
Globe moves through 2025 with confidence, backed by sound fundamentals and a focused strategy that emphasizes innovation, financial strength, and purposeful investment, advancing its vision to Go Forward Together with every Filipino.