Simplify's take
What believers are saying
- Nine-month 2026 service revenue hit P129 billion, a record, up 6%.
- Globe spent P35.8 billion on capex, adding 1,481 5G sites and 128,732 fiber lines.
- October 2026 Mynt IPO and GCash's scale strengthen non-telco earnings growth.
What critics are saying
- Net income fell 6.9% to P16.5 billion through September 2026 from higher financing costs.
- Peso depreciation and higher interest drove P4.2 billion forex losses and P18.21 billion financing costs.
- Starlink DTC looks existential if rivals match satellite coverage and undercut Globe's rural moat.
What makes Globe Telecom unique
- January 2026 Starlink Direct-to-Cell makes Globe first in Southeast Asia.
- Globe retained 49% of Yondu, while NCS expands APAC digital, cloud, and AI services.
- GCash and Mynt diversify Globe beyond telecom, with Mynt IPO raising P60.9 billion.
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