Globe’s non-telco revenues drop even as equity earnings surge

By Francis Allan L. Angelo

Globe Telecom reported a 60% year-over-year decline in non-telco revenues, contrasted by a 230% increase in equity earnings from affiliates.

This reflects Globe’s strategic shift towards a diversified digital ecosystem encompassing financial technology, healthcare, education, environment, business enablement, and more.

GCash, Globe’s flagship financial technology service, remains the leading cashless ecosystem in the Philippines. It boasts an active user base five times larger than its nearest competitor, supported by a network of over 6 million merchants.

GCash’s innovative services and robust security have earned it multiple accolades, including recognition from the Asia-Pacific Stevie Awards and Pan Finance.

In 2024, GCash was also named Company of the Year by Frost & Sullivan for its contributions to the financial technology industry. The platform offers a comprehensive suite of digital financial services, including savings, investments, insurance, and credit products.

Through its lending services, GCash has provided credit to over 4.5 million borrowers, focusing on lower socio-economic classes and women.

GCash has expanded its reach internationally, offering payment services in 47 countries and enabling overseas Filipinos to manage their finances through GCash Overseas.

The GForest initiative further emphasizes sustainability, with users planting over 2.7 million trees.

Globe’s 917Ventures includes KonsultaMD, a telehealth service platform providing 24/7 online consultations and other healthcare services, and Brave Connective Holdings, Inc., which enhances business-customer connections through data and analytics.

In 2023, Globe, Ayala Corporation, and Gogoro Inc. introduced Gogoro Smartscooters® and battery-swapping in the Philippines, promoting sustainable transportation.