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Globe Telecom rakes in PhP 31.1-billion in Q1 2017
By Lionell Go Macahilig - on 12 May 2017, 9:13pm

Globe Telecom rakes in PhP 31.1-billion in Q1 2017

globe telecom, smartphone, revenue, q1 2017, ernest cu, mobile data, home broadband, corporate

Telco giant Globe Telecom concluded the first quarter of the year with record-level consolidated service revenues of PhP 31.1-billion, four percent higher than same period last year’s PhP 30-billion and PhP 62-million higher than the preceding quarter’s all-time high revenues.

Globe’s strong Q1 2017 performance is attributed to the sustained solid revenue growth across all data-related segments as well as the expansion of subscriber base in both mobile and broadband business units.

“We are seeing encouraging improvements this quarter, despite the temporary setback on profits as we continue to lay down the foundation to secure sustainable growth in the future. Our continued aggressive network modernization and upgrades using the latest technologies are all geared towards enhancing our internet services, so that our customers can have a wonderful and seamless connectivity,” Globe President & CEO Ernest Cu said.

A large percentage of Globe’s Q1 performance came from mobile revenues, comprising of Php 23.8-billion, up 3% year-on-year from the PhP 23.1-billion of the same period in 2016. The telco’s mobile subscriber base grew to 58.6 million, up 2% from the 57.3 million subscribers in Q1 2016.

Strong demand for mobile data remains the biggest driver of Globe’s mobile revenues, reaching 42%, equivalent to almost PhP 10-billion in Q1 2017 or 8% higher than the PhP 9.2-billion in Q1 2016. Mobile voice declined by 3% year-on-year, whereas SMS increased by three percent.  

Showing consistent year-on-year growth, Globe’s home broadband business registered a total of PhP 3.8-billion in Q1 this year, up 9% from PhP 3.5-billion in Q1 2016. Globe has now a total of 1.19 million home broadband subscribers.  

In the corporate data business unit, Globe’s revenues hit PhP 2.5-billion in Q1 2017, up 7% from the PhP 2.4-billion in Q1 2016. Traditional fixed line voice revenues, however, posted a 2% decline from the same period last year.