Globe Telecom’s revenue in the first six months of the year soared by 9 percent, which the company attributed to the continued modernization of its network and information technology (IT) infrastructure.
The Ayala-led telecommunications firm recorded revenues of P44.5 billion from consolidated services, which is 9 percent higher compared to the P40.8 billion recorded in the same period last year.
Consolidated earnings before interest, taxes, depreciation and amortization for the six-month period stood at P18.9 billion against the prior year’s P17.7 billion.
Ernesto Cu, Globe president and chief executive officer, said that the company is still anticipating partnership and expansions for the second semester.
“We anticipate competition to escalate in the second semester given the gains we’ve realized in the past, and anticipated launches of in-demand mobile devices from Apple and Samsung in the second half of the year,” he added.
The company also reported that its mobile segment rose by 8 percent, broadband by 25 percent and fixed household line by 12 percent. Mobile revenues also gained additional P2.6 billion to P35.8 billion year-on-year.
Globe said that the company’s gains were achieved because of the expanded postpaid and Touch mobile labels, customized product offerings, and rising demand for mobile browsing services through Apple, Samsung and Blackberry devices.
“We remain confident that with the modernized Globe network and IT infrastructure that is nearing its completion, we’ll be able to deliver superior value and differentiated customer experience to our subscribers,” Cu said.
Globe’s subscriber base also rose by 14 percent from the same time last year to 36.1 million subscribers.
Total broadband revenues accounted to P5.1 billion because of increased demand for wireless and wired broadband options, while broadband subscribers totaled over 1.8 million—a 15-percent increase year-on-year.
“We are pleased with our first-half performance despite the ongoing network and IT modernization initiatives we are undertaking to serve our customers better,” Cu said.
“We’ve built up great momentum during the first semester, and we need to strive harder to sustain it in this very competitive and fast paced environment,” he added.
As of last week of June, Globe had a total of 15,670 base stations, with over 6,000 of which are fourth generation, to support the service requirements of its subscribers.