Surging data demand boosts Globe’s profit
Globe Telecom grew its nine-month net income by 11 percent to P13 billion, boosted by sustained growth of data-related products and services.
Core net income, which excludes the impact of non-recurring charges, one-time gains, foreign exchange gains and mark-to-market charges, fell five percent to P11.2 billion.
Grross service revenues reached an all-time high P95.1 billion, up six percent year on year.
‘”We take pride in our accomplishments for the first nine months of the year with the sustained record-level revenues and EBITDA [earnings, before interest, tax, depreciation and amortization] . These achievements continue to inspire us to do excellent work in all aspects of our business,” said Ernest Cu. president of Globe.
“As we focus more on the network improvement and differentiated customer experience, we expect to maintain our current momentum, and round out the year with a stable growth performance,” he added.
Mobile revenues went up seven percent to P73.1 billion while the home broadband business saw revenues increase eight percent to P11.7 billion.
Revenues.from the fixed line voice, on the other hand, fell 5 percent to P2.69 billion from last year’s P2.83 billion.