<TABLE> <S> <C>

<PAGE>

<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM GLOBAL
CROSSING HOLDINGS LTD. AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>

<S>                             <C>                     <C>

<MULTIPLIER> 1,000
<PERIOD-TYPE>                   YEAR                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998             DEC-31-1997
<PERIOD-START>                             JAN-01-1998             MAR-19-1997
<PERIOD-END>                               DEC-31-1998             DEC-31-1997
<CASH>                                         880,617                  26,728
<SECURITIES>                                         0                       0
<RECEIVABLES>                                   71,195                       0
<ALLOWANCES>                                     4,233                       0
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                             1,007,838                  27,744
<PP&E>                                               0                       0
<DEPRECIATION>                                       0                       0
<TOTAL-ASSETS>                               2,644,900                 572,197
<CURRENT-LIABILITIES>                          248,253                  90,817
<BONDS>                                      1,090,613                 315,334
<PREFERRED-MANDATORY>                          487,375                  91,925
<PREFERRED>                                          0                       0
<COMMON>                                            12                      12
<OTHER-SE>                                     783,668                  74,109
<TOTAL-LIABILITY-AND-EQUITY>                 2,644,900                 572,197
<SALES>                                        424,099                       0
<TOTAL-REVENUES>                               424,099                       0
<CGS>                                          178,492                       0
<TOTAL-COSTS>                                  399,432                   3,101
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                 4,233                       0
<INTEREST-EXPENSE>                              42,880                       0
<INCOME-PRETAX>                                  3,661                   (160)
<INCOME-TAX>                                    33,067                       0
<INCOME-CONTINUING>                           (95,936)                (12,850)
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                               (19,709)                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                  (95,936)                (12,850)
<EPS-BASIC>                                        0                       0
<EPS-DILUTED>                                        0                       0
<FN>
<F1>BALANCE SHEET AS OF 12/31/98
<F2>BALANCE SHEET AS OF 12/31/97
<F3>P&L FOR PERIOD ENDING 12/31/98
<F4>P&L FOR PERIOD ENDING 12/31/97
</FN>





</TABLE>