Globe posts record revenue for 9M15

10 Nov 2015
00:00
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Daily News

The Philippines' Globe Telecom has reported a record 83.4 billion pesos ($1.76 billion) in service revenue for the first nine months of the year, driven in part by the fruits of the acquisition of BayanTel.

Post-tax profit grew 34% to 14.14 billion pesos, and would have increased 31% to 13.79 billion pesos without the contribution of BayanTel.

Mobile revenue grew 9% to 63 billion pesos, with Globe Postpaid revenue growing 6%, Globe Prepaid revenue up 8% and TM revenue - Globe's mass-market brand - rising 15%.

Globe's mobile growth was attributed to increasing demand for mobile data services. Revenue from this segment increased 48% to 15.1 billion pesos. An 8% increase in voice revenue meanwhile helped compensate for a 7% decline in SMS revenues.

The operator's broadband business meanwhile posted a 37% increase in revenue to 12.4 billion and grew its customer base by 57% to 4 million, while Globe's fixed line data businesses swelled 37% to 5.5 billion pesos.

Globe secured approval to take over BayanTel via a debt conversion scheme in July, and completed the acquisition during the third quarter.

“We are pleased that Globe sustained the growth momentum for the first nine months of 2015, despite the renewed challenges in the industry. We have maintained our aggressive stance as we continue fortifying our leadership in the digital space,” Globe CEO Ernest Cu commented.

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