According to USGS (US Geological Survey), the earthquake was caused by the reverse faulting that happened within the oceanic lithosphere of the Philippines' Sea Plate.
Based on the USGS event page, nearby cities which experienced the strong quake were the following: Sulangan, Guiuan, Borongan, Surigao, and Manila.
Damages
A 54-year-old woman has died while her 5-year-old grandson was injured after a house collapsed in southern Cagayan de Oro city.
The quake knocked out power in several towns and cities across the central and southern Philippines, though it was restored in some areas later Friday, according to rescuers and local radio reports.
Tsunami Warnings cancelled
With the Tsunami Bulletin # 004 issued by the Pacific Tsunami Warning Center at 14:54 UTC (10:54 Philippine time), the Tsunami warning which was previously issued by the center was cancelled for Indonesia, Philippines and Belau.
“Sea level readings indicate a tsunami was generated. It may have been destructive along coasts near the earthquake epicenter. For those areas – when no major waves are observed for two hours after the estimated time of arrival or damaging waves have not occurred for at least two hours then local authorities can assume the threat is passed”, the bulletin explained.