Globe’s net income rises 11% to P12.98b

Globe Telecom Inc. booked a net profit of P12.98 billion in the first nine months of the year, up 11 percent from P11.72 billion year-on-year, boosted by the mobile and home broadband businesses. 

Core net income, meanwhile, fell 5 percent to P11.21 billion from last year’s P11.75 billion. 

“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,” Globe president and chief executive Ernest Cu said. 

“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. 

Globe’s service revenues amounted to P95.14 billion in the first nine months of the year, up 6 percent from P89.43 billion on year. 

Mobile revenues stood at P73.1 billion as of end-September 2017, up 7 percent  year-on-year, driven by the strong uptake in mobile data.

Globe’s home broadband business reported an 8-percent year-on-year growth, delivering a total of P11.7 billion revenues as of end-September this year. 

Darwin G. Amojelar

The corporate data business generated P7.6 billion in revenues, up 4 percent from P7.3 billion posted a year ago. 

The company’s fixed line voice, meanwhile, recorded a 5-percent decline in revenues to P2.69 billion from last year’s P2.83 billion. 

Globe spent around P36.8 billion in capital expenditures as of end-September of 2017 to support the growing subscriber base and its demand for data. 

Of the total capex spent this year, about 84 percent was for the data service needs of customers. To date, Globe has over 24,000 base stations for 4G3 to support the service requirements of its customers. 

Globe’s total mobile subscribers stood at 59.33 million at end-September, lower by 9 percent from last year’s 65.36 million. 

The company’s home broadband subscribers reached 1.26 million, up 9 percent from last year’s 1.15 million subscribers.

Topics: Globe Telecom Inc
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