Globe Telecom Inc. said Monday net income grew 25 percent in the first quarter from a year ago, boosted by data-related products across all segments.
Globe asaid net income reached P4.7 billion in January to March, up from P3.76 billon in the same period last year.
Core net income, which excludes the impact of non-recurring charges and foreign exchange and mark-to-market charges, rose to P4.8 billion in the three-month period from P3.7 billion a year earlier.
Globe posted consolidated service revenues of P33.2 billion in the first three months, up from last year’s P31.1 billion.
“Service revenues benefitted from the demand for data-related products across all segments, given the increase in consumption for video streaming and on-demand entertainment,” Globe said.
This was supported by Globe’s 4G and LTE network, relevant and affordable product offerings and an enhanced content portfolio in partnership with world-class content providers, it said.
Mobile revenues improved to P25.5 billion from P23.8 billon amid the growing demand for data as more Globe customers adopted the digital lifestyle.
Globe’s mobile subscriber base reached 63.3 million as of end-March 2018, up 8 percent from 58.6 million subscribers reported in the same period last year.
Mobile data service revenues reached P12.3 billion, while mobile data traffic grew 37 percent from 131 petabytes last year to 180 petabytes in the first quarter of 2018.
Mobile SMS and mobile voice revenues generated P5.6 billion and P7.6 billion, respectively, on continued shift to internet-based applications, consistent with global trends.
Globe’s home broadband business ended the first three months with P4.3 billion. Total subscriber base reached 1.4 million as of end-March, or 17 percent higher from a year ago.
Globe’s corporate data business also posted P2.6 billion in revenues. This was mainly attributed to increasing demand for connectivity and business solutions, resulting in higher customer base expansion, circuit count increase and higher usage. Traditional fixed-line voice revenues reached P770 million.
Globe spent P6.6 billion as of end-March of 2018 to support the growing subscriber base and demand for data. Of the total capital expenditures during the period, about 64 percent was for the data service needs of customers.
Globe has 38,963 base stations, with over 25,600 for 4G to support the service requirements of its customers.