Strong data growth perks up Globe’s 9-month profit to P17.7B
Globe Telecom reported a 20% jump in its nine-month earnings to P17.7 billion, largely driven by the strong growth across all data-related products and services.
Consolidated service revenues rose 13% to P110.6 billion, 70% of which came from data revenues.
“We are happy that the sustained topline and profit growths we have achieved over the past three quarters have positioned us well as we head into the fourth quarter. We are likewise excited that, as we gear up for the roll out of our At Home Air Fiber 5G service, we are shaping the future of the nation and solidifying our leadership role in providing fast and reliable internet in the markets we serve,” said Ernest L. Cu, president and CEO of Globe Telecom.
Mobile revenues remained the top contributor, pumping in P83 billion or about 75% of the total service revenues. The figure is 13% higher than the previous year.
Globe has a total mobile subscriber base of 97.4 million, up 5% from the previous quarter.
Mobile data revenues amounted to P52.2 billion, fuelled by a combination of Globe’s compelling data bundles, better network coverage, improved smartphone affordability and the growing number of subscribers who engage on social networks, stream videos and music content as well as gaming.
Mobile data now accounts for 63% of mobile revenues from 49% a year ago. Mobile data traffic likewise improved from 641 petabytes in same period of 2018 to 1,200 petabytes this period supported by the continued growth in consumer’s appetite for data.
Meanwhile, mobile voice and mobile SMS revenues fell 15% and 22% to P18.5 billion and P12.3 billion,respectively.
Globe’s home broadband revenues grew 19% to P16.1 billion, buoyed by the 40% subscriber expansion in fixed wireless solutions and the increasing popularity of Home Prepaid Wi-Fi.