Lobo first played satellite tournaments, in 1990 he won two of them. The following year he played on the ATP Challenger Tour and was able to reach the final in Lins . He also won the double title at the Challenger tournament in São Paulo on the side of Pablo Albano . In 1994 he won an ATP tournament for the first time at the side of Javier Sánchez in Athens . With Sanchez he won two more double titles in the following year, they were also four times in a final, including the Masters tournament in Monte Carlo . 1997 was his most successful year; he won five double tournaments, including the Masters tournament in Hamburg . In his career he won a total of twelve double titles, including two in the ATP International Series Gold category and one in the ATP Masters Series category . Another eight times he was in a double final. He reached his highest world rankings in 1991 with position 167 in singles and 1997 with position 12 in doubles.
In the individual, he could never qualify for a Grand Slam tournament . In doubles, he was in the 1996 round of 16 of the French Open , in 1998 in the quarter-finals of the Australian Open and twice in the quarter-finals of the US Open . At Wimbledon , his best result was reaching the third round.
After the end of his professional career, Lobo worked as a coach. From 2006 he coached the former world number one Carlos Moyá and Juan Mónaco and was also the team manager of the Argentine team in the World Team Cup , which won the 2010 World Cup in Düsseldorf .