MANILA – The introduction of better products, especially as more Filipinos are now attuned to digital services, will help sustain Global Telecom Inc.’s revenues amid the current economic risks, an executive said on Wednesday.
In an online briefing, Globe president and chief executive officer Carl Raymond Cruz said consumer spending is affected by the continued acceleration of the domestic inflation rate and other economic uncertainties.
He said the company “continue(s) to be very clear in terms of our North Star, which is to always provide the best-in-class customer experience.”
“There is, you know, continued demand for our core services, and we’re also seeing right now as the digital economy of the Philippines continues to grow, the level of participation and our ability to continue to serve the Filipino people again gives us a source of growth that’s there for the next few quarters and years to come,” he said.
“While we do recognize the operating environment remains very challenging, we are making sure that from an operational lens, we are very efficient and we are disciplined in terms of capital spending, and we follow where the customers are,” he noted.
In the first nine months this year, the publicly-listed firm reported a record-high service revenues of PHP129 billion, up six percent year-on-year, and record-high mobile business revenues of PHP91.4 billion, also a six percent jump over the 2025 level.
Core net income after taxes stood at PHP15.5 billion.
Capital expenditures rose 14 percent on an annual basis to PHP35.8 billion, far below the company’s USD1 billion full-year target capex for the year.
Carlo Puno, Globe chief financial officer, treasurer, and chief risk officer, during the same briefing, said they are firm on keeping their spending in check and “remain disciplined.”
“We do continue to prioritize, of course, customer requirements, as well as those investments that will deliver long-term value for the company,” he said, noting the focus on “improving cash generation through stronger operating performance” as well as better cost structures and using funds “into the right areas.”
“We’re balancing the need, of course, to strengthen our network with our commitments to our customers with financial discipline that we also owe to our shareholders,” he added. (Joann Santiago-Villanueva/PNA)
