Earnings call transcript: Globe Telecom posts record H1 2026 revenue, stock rises 0.99%

Globe Telecom reported record first-half 2026 service revenues and steady margin expansion, despite lower net income due to reduced gains from its Mynt stake and increased non-operating charges. Consolidated gross service revenues grew 6% year-on-year to PHP 85.4 billion, while EBITDA rose 6% to PHP 44.9 billion. The company's stock closed at $1,742, up 0.99% from the previous close.

Globe faced a challenging consumer environment but delivered a resilient half, with inflation and cautious spending affecting households. Core business shifted toward data, which accounted for 91% of revenues, reflecting diversification and quality. Mobile revenues rose 6% to PHP 60.4 billion, with data revenues up 10% to PHP 53.9 billion, driven by a larger user base, stronger usage, and 5G adoption.

Fiber broadband revenues increased 6% to PHP 12.4 billion, with fiber subscribers growing 33% year-on-year. Business-to-business operations also showed growth, with corporate data revenues up 15% to PHP 11 billion. Globe maintains attractive gross profit margins of 100% and has paid dividends for 24 consecutive years at a yield of 10.7%.

The company expects low-to-mid-single-digit revenue growth in the second half, with a focus on monetization, customer engagement, network expansion, digital platforms, and disciplined capital allocation.