Globe nine-month income up 13% to P14.6b

November 7, 2018

Globe Telecom said its net income rose by 13 percent from January to September due to broadband revenues.

Globe reported a net income of P14.6 billion in the period from P13 billion during the same period last year.

“Overall, I am pleased with our third quarter results, and we are optimistic that we can sustain this momentum,” Ernest Cu, president and chief executive of Globe, said.

Globe’s operating revenues amounted to P110.78 billion, up 10 percent from last year’s P100.45 billion.

Mobile revenues amounted to P79.13 billion, up eight percent, while home broadband revenues went up by 15 percent to P13.5 billion.

Globe said the  double=digit growth of home broadband resulted from getting more subscribers and continued demand for fast home internet.

The company   invested  around 32.5  billion  or $618  million  in  capital expenditures to support the growing subscriber base.

Globe’s mobile subscriber base totaled 65.4 million as of end-September, up 10 percent  from the 59.3 million subscribers in the same period last year.  DMS