Ayala-led Globe Telecom Inc. on Friday reported a core net income of P18.3 billion during the January to September 2021 period, up 17% from P15.6 billion posted in the same period in 2020.
In a disclosure to the Philippine Stock Exchange, Globe said its consolidated services revenues during the first nine months of the year stood at P113.6 billion, up 4% year-on-year “against the backdrop of significant economic and public mobility challenges amidst the COVID-19 crisis.”
The rising data consumption and broadband usage in the country remains the biggest driver for this period’s improved topline.
Total data revenues accounted for 80% of total service revenues from 76% last year.
“We are happy to report a resurgent business performance in the third quarter, with the topline now back to pre-pandemic levels, despite the continued economic and public mobility challenges, and competitive industry environment,” said Ernest Cu, Globe president and CEO.
“Rest assured that Globe will continue to create new and exciting propositions to reach more customers, as we provide connectivity and solutions to power and enable a robust digital ecosystem for the Filipino,” Cu said.
Globe said its network rollout since January has resulted in a record level capital expenditure amounting to P65.4 billion, already surpassing last year’s full year investment of P60.3 billion. — RSJ, GMA News
Globe s 9-month core net income up 17% to P18.3B
Source: News Panda Philippines
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