MANILA -- The management of Globe Telecom announced that the company's core income has increased 40 percent to PHP 6.73 billion in the first quarter of 2019 compared to only PHP 4.8 billion during the same period last year, driven by strong subscriber demand for data-related services.
In a press conference on Monday, Globe's top managers said that consolidated service revenues stood at PHP 36 billion which was higher by 13 percent year on year from PHP 31.94 billion due to sustained increase in data usage across all data-related services and products.
Mobile revenues for the first three months of 2019 grew by 11 percent to PHP 27 billion from PHP 24.2 billion last year derived from the strong performance of its prepaid brands.
Home broadband and the corporate data business likewise grew by 21 percent and 16 percent year-on-year, respectively brought about by increasing subscribers and continued demand for fast and reliable Internet services.
Globe has spent around PHP 8.8 billion in capital expenditures for the period representing 24 percent of its topline revenues of which 68 percent were allocated for data-related services.
“As we continue to invest in our LTE network, we are also excited with the growth opportunities of our 5G commercial pilot launch in June this year. Through this launch, we will be able to offer our customers a whole new ecosystem of devices to enhance the way they experience data to the home,” Globe President and Chief Executive Officer Ernest Cu said.
“For 2019, we are confident in our ability to maintain this strong growth momentum with the aggressive investments in the network, coupled with the evolving lifestyle bundles that aim to strongly influence the digital life of Filipinos,” he added.
Globe has allocated PHP 63 billion in capital expenditures this year to support the development of its mobile and fixed line networks.
The company’s mobile subscribers have reached 83.5 million for the first three months of 2019 up by 13 percent from the fourth quarter of 2018. (PNA)
