GLOBE Telecom, Inc. reported a 0.37% increase in second-quarter net income to P5.48 billion, driven by record revenues, according to BusinessWorld. Gross revenue for the three months ended June reached P46.95 billion, up 8% from P43.47 billion in the same period last year.
Despite the quarterly growth, the listed telecommunications company said higher costs weighed on its first-half earnings. Continued expansion in its mobile and digital businesses helped support revenue, but expenses offset some of the gains, resulting in a softer bottom line for the January-to-June period.
The results come as the Philippine telecom sector faces intense competition and rising operational expenses. Globe has been investing in network upgrades and digital services to sustain growth, though cost pressures remain a key challenge for the industry.