Globe Telecom Inc. on Friday said net income rose 21 percent to P12 billion in the first half of the year from P9.8 billion year-on-year, boosted by sustained growth across all data-related products and services.
Core net income stood at P12 billion, up 18 percent from P10.2 billion reported a year earlier.
Globe’s consolidated service revenues amounted to P72.9 billion, 13 percent higher than the level posted a year ago.
“We are pleased with the Company’s robust performance and that we are on track with our strategic objectives for this year. We will continue to invest in our 4G and LTE network to enhance the customer experience and reinforce our competitive advantage moving forward,” said Globe president and chief executive Ernest Cu.
Mobile revenues in the first six months of the year stood at P54.6 billion, surpassing the P49 billion posted in the same period of 2018 and 2 percent higher than the previous quarter.
The continued strong growth of the company’s prepaid brands once again led to improved performance. Total mobile subscriber base is now at 92.9 million, up 11 percent from last quarter.
From a product perspective, mobile data revenues amounted to P34 billion as of the first half of the year, fueled by the sustained increase in data usage brought about by the popularity of online gaming, streaming and on-demand video content.
Globe’s home broadband revenues reached P10.6 billion, up 21 percent from a year earlier, and 3 percent higher than the prior quarter.
Corporate data revenues also sustained its double-digit growth at 15 percent from the P6.3 billion reported as of end-June of 2018.
Of the P63 billion capital expenditures of Globe this year, the company spent P19 billion as for June to to enhance its network’s data capacities and capabilities.