Globe posts record profit, revenue for 2014

Dylan Bushell-Embling
06 Feb 2015

The Philippines' Globe Telecom has reported a record 14.5 billion pesos ($328.6 million) in core net profit for calendar 2014, up 25% from 2013.

Consolidated service revenues grew 9% to a record-high of 99 billion pesos, driven by a strong second-half performance.

Revenue for the third quarter reached an all-time quarterly high of 25 billion pesos, only to reach a new high of 26.3 billion pesos in the fourth quarter.

Globe attributed the growth to rising demand for data connectivity across its mobile, broadband and fixed line data segments.

Mobile revenue grew 7% in 2014 to 78.1 billion pesos, or 79% of total consolidated revenues. Postpaid revenues improved 11% to 29.9 billion pesos, and Globe's postpaid subscriber base grew to 2.3 million. Total mobile subscribers increased 14% to 44 million.

Broadband revenue meanwhile swelled by 22% and the operator's broadband customer base grew 37% to nearly 2.8 million.

During the year, Globe enhanced its mobile network to provide 100% 3G and 4G coverage.

Globe president and CEO Ernest Cu said the operator has “seen a steady and healthy growth in both our mobile and broadband businesses, surpassing all of our expectations, and we are confident in sustaining this momentum moving forward.”

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