Globe Telecom’s mobile business will continue its growth amid expectations of stronger domestic spending and the sustained mom-entum of the country’s economy.
In a statement, Ernest Cu, Globe president and chief executive officer, said that, “We expect mo-bile revenues to continue its growth trajectory as the country’s robust growth has been generating a lot of confidence in the local economy, leading to sustained domestic spending.”
The company took note of the country’s 7.6-percent gross domestic product growth in the first half of the year, which is well in line with the government’s 7-percent to 8-percent growth target for the year.
Globe added that mobile revenues in the first half of the year rose 8 percent to P35.8 billion from P33.3 billion a year earlier, as the company’s postpaid segment continued to deliver solid growth while its prepaid segment held ground.
The company’s mobile sub-scriber base stood at over 36 million at the end of the first half of the year, growing 14 percent from the previous year, increasing by nearly 4.4 million.
Mobile revenues, which account for 80 percent of consolidated service revenues in the first half, drew support from higher revenue contributions of un-limited short messaging service or SMS, mobile browsing and other value-added services.
“Growth was also complemented by strong subscriber uptake in the first half of the year, stemming from aggressive acquisitions in both postpaid and prepaid segments, leading to overall subscriber net additions of close to three million in the first half, which is a 76-percent surge from a year earlier,” Cu said.
Rosalie C. Periabras