Globe Telecom Inc. said Thursday it kept its dominance as the country’s largest telecom company with a market capitalization of P321.25 billion as of Oct. 11, reflecting investors’ confidence amid volatile financial markets.
It said despite the global headwinds arising from elevated inflation and aggressive rate hikes by the US Federal Reserve, it managed to lead the competition in terms of market capitalization at the Philippine Stock Exchange.
The company exhibited remarkable growth as it transforms into a technology-based solutions provider from a telco operator.
“Globe is starting to reap gains as it pivots to becoming a digital solutions platform to address the day-to-day pain points of Filipinos. The way investors are valuing us is very encouraging and that we have taken the right strategy for growth,” Globe president and chief executive Ernest Cu said.
Globe has grown its portfolio with ventures into financial technology, healthcare, edutech, entertainment, adtech, e-commerce, manpower, information technology services and investments. Darwin G. Amojelar
