Modern network to boost Globe revenues


Globe Telecom said on Monday that the company’s modernized infrastructure is expected to lift capacity and boost network performance, and thus further enhance the Globe brand.

In a statement, president and chief executive officer of Globe, Ernest Cu, said that, “The company continues to contribute innovative broadband products, providing differentiated data speeds and enhanced services to cater to varying market preferences.”

Globe’s subscriber base continued to gather momentum, as the company’s net subscriber additions in the January to September period reached to 3.4 million, or 70 more percent compared to a year earlier.

The company’s sharp increase in net subscriber additions pushed the company’s total subscribers at the end of the period to a fresh record of 36.5 million, an increment of 14 percent from a year earlier.

This, in turn, generated robust gains in its postpaid and mobile browsing businesses despite intense competition, and supported a 10-percent revenue growth of P67.3 billion, leading to a core net income rise of 9 percent to P9.5 billion.

The company’s encouraging growth in the first nine months of the year was attributed by Globe to the strong performance of its mobile business, which generated total revenues of P54.1 billion in the first nine months of the year, an 8-percent increase from a year earlier.

Postpaid revenues alone reached almost P20 billion, a 20-percent jump from a year earlier, courtesy of a 19-percent growth in postpaid subscribers.


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