Metro Manila (CNN Philippines, November 7) — Globe Telecom Inc. posted a 20-percent growth in its earnings in the first nine months of the year, backed by double-digit growth in total service revenues.
The listed telco firm’s core net income jumped to ₱17.9 billion in the nine months to September from ₱14.9 billion a year ago.
The Ayala-led company also enjoyed a 13-percent rise in service revenues, which stood at ₱110.6 billion by end-September. The increase was attributed to higher data-related products and services consumption.
Mobile revenues made up the bulk of the service revenues at 75 percent or ₱83 billion, driven by growth in the company’s prepaid brands. The amount was 13 percent higher than the ₱73.7 billion in the same period last year.
Globe Telecom’s mobile subscribers grew 5 percent to 97.4 million second quarter.
Revenues from mobile data use accounted for 63 percent the total at ₱52.2 billion, fueled by Globe’s data bundles, improved network coverage, smartphone affordability, and more subscribers on social networks, video and music streaming, and gaming platforms.
Mobile data traffic also jumped from 641 petabytes in 2018 to 1,200 petabytes during the period, on higher data usage.
On the other hand, mobile voice and mobile SMS revenues for the period fell by 15 percent to ₱18.5 billion and by 22 percent to ₱12.3 billion due to shift from traditional to data-based services.
Meanwhile, data revenues accounted for 70 percent of the total revenues, lifted by the company’s 4G/LTE network expansion.
As of September, the company’s home broadband revenues was at ₱16.1 billion, 19 percent higher year-on-year. This, as total home broadband subscribers jumped 24 percent to 1.9 million from a year ago.
For the corporate data segment, Globe Telecom generated ₱9.5 billion in revenues, a 12 percent improvement from the ₱8.4 billion reported in 2018. The growth was largely due to increased internet and domestic services usage.
Globe spent about ₱32 billion in nine months to enhance its network’s data capacities and capabilities.
