Globe: Revenues of mobile business hit P54.8B in H1 | Lorenz S. Marasigan

Globe Telecom Inc. said on Sunday the revenues of its mobile business grew by 1 percent year-on-year in the first half despite the mandatory registration of SIM cards.

“We see that SIM registration has no material impact on revenues. We’ve observed our top-ups remain unaffected and acquisitions in the last five weeks are still at least 50 percent higher than pre-deadline run-rates. It’s evident that we have already covered 99 percent of our revenue base,” he said.

Under the SIM Registration Act, all mobile phone and prepaid broadband users were required to register their existing SIMs by July 25, 2023, or face SIM deactivation.Issa Guevarra-Cabreira, Chief Commercial Officer of Globe, echoed Delgado as she underscored the company’s focus on customer quality over quantity.

Globe reported a 27-percent drop in net income to P14.38 billion in the first half from last year’s P19.68 billion mainly due to the one-time gain that the company recorded in 2022.

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