Bayan buy helps Globe Q1 profit grow 3%

06 May 2016
00:00

The Philippines' Globe Telecom grew its post-tax profit for the first quarter by 3% to 4.33 billion pesos ($91.4 million) on the back of a 14% increase in consolidated revenue.

Gross service revenues grew to 29.9 billion pesos, with mobile revenues increasing 7% year-on-year to 23.1 billion pesos due to strong prepaid growth.

Home broadband and corporate data revenue meanwhile both grew 51% year-on-year on the back of continued subscriber growth, with fixed line voice increasing 33%.

Excluding the contribution of Bayan Telecommunications, which was acquired by Globe last year and integrated into the business in July, service revenues would have growth 9% to 28.5 billion pesos, but net profit would have dipped 1%.

Globe's subsidy and operating expenses were reduced by 12% sequentially to 16.8 billion pesos, and would have declined 16% when excluding the impact of Bayan.

Globe reported net subscriber additions of over 1 million in the first quarter, but this was down 53% year-on-year and 65% from the previous quarter. Mobile subscribers increased 18% year-on-year to 57.3 million, but postpaid subscribers declined by 1% from the previous quarter.

Postpaid ARPU fell 2% year-on-year to 1,099 pesos, prepaid ARPU was down 9% to 116 pesos and Touch Mobile (TM) ARPU shrank 12% to 65 pesos.

Related content

Comments
No Comments Yet! Be the first to share what you think!
This website uses cookies
This provides customers with a personalized experience and increases the efficiency of visiting the site, allowing us to provide the most efficient service. By using the website and accepting the terms of the policy, you consent to the use of cookies in accordance with the terms of this policy.