Ayala-owned Globe Telecom reported that Mynt — the fintech unit behind GCash — continued to play a central role in its financial performance for the first nine months of 2025, contributing a record ₱5.3 billion in equity share and accounting for 25% of Globe’s net income before tax.
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| Globe CEO Carl Cruz |
This marks a significant jump from 14% in the same period last year, underscoring the growing importance of digital financial services to the company’s earnings.
In its filing with the Philippine Stock Exchange, Globe said Mynt’s contribution grew 52% year-on-year, driven by strong user engagement across payments, lending, remittances, and newly expanded overseas services. The fintech platform remains the country’s leading finance super-app, with broad adoption across both domestic and international users.
For the nine-month period ending September, Globe posted ₱121.7 billion in consolidated service revenues, slightly lower than last year but showing continued sequential recovery.
In the third quarter alone, revenues reached ₱41.5 billion, up 3% quarter-on-quarter — its fastest sequential growth in 13 quarters.
Mobile services remained Globe’s largest business segment with ₱86.2 billion in revenues, while home broadband contributed ₱17.8 billion, and corporate data delivered ₱15.0 billion.
The company said higher mobile data use, rising fiber adoption, and improving enterprise demand helped sustain the quarter-on-quarter uplift.
Globe reported ₱17.7 billion in net income, including non-recurring gains, while normalized net income stood at ₱15.2 billion. Core net income reached ₱15.5 billion during the period.
Despite these results, the company highlighted that Mynt’s continued expansion significantly bolstered overall profitability. With GCash still the country’s widely used e-wallet and finance super-app, Mynt has continued to scale its ecosystem — from payments and remittances to credit, savings, investment, and insurance products.
The platform also expanded internationally through GCash Visa Card, Global Pay, and the GCash Overseas program, allowing Filipinos in 145 countries to use the app with international mobile numbers.
Globe president and CEO Carl Cruz said the strong contribution from Mynt complements Globe’s digital transformation efforts.
“Mynt continued to be a key contributor to earnings, reaffirming the expanding role of our digital platforms,” Cruz said.
On the network side, Globe spent ₱31.4 billion in capital expenditures for the period — 23% lower year-on-year — as it optimized investments while expanding mobile and fiber infrastructure.
The company built 1,375 new cell sites, upgraded 8,699 mobile sites, and rolled out more than 60,000 fiber-to-the-home lines.
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