Globe earnings up 48% in 9 months

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

Globe Telecom Inc. reported a 48 percent increase in net income to P26.5 billion in the first nine months this year versus same period last year while consolidated earnings hit P118 billion, up three percent year-on-year.

Globe said the huge jump in net income was due to one-time gains from the sale of its tower assets while the slight increase in consolidated earnings was attributed to rising data usage plus growth in its non-telco business.

“We believe that our decision to pivot and expand our growth opportunities through non-telco services has paved the way for us to remain relevant and competitive,” Cu said. From a product view, mobile data revenues grew 8 percent to ₱62.5 billion in the first nine months of the year. This was mainly due to the strong traction from information and communication technology services which grew 96 percent year-on-year.

Globe’s total operating expenses, including subsidy, stood at ₱57.6 billion for the first nine months of 2022, or flat year-on-year. Globe’s balance sheet remained healthy and gearing comfortably within bank covenants despite the increase in debt from ₱210.1 billion as of end-December 2021 to ₱248.4 billion this period.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Then why is their service so unreliable? Why constant sms casino spam ? Why no reminder on monthly plans ? Profit first customer service last

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Globe portfolio company Yondu partners with Cisco for world-class IT and networking solutions - BusinessMirrorGlobe’s IT solutions company, Yondu, is now a select partner of Cisco, a worldwide leader in IT and networking. The partnership enables Globe, through Yondu, to expand its product offerings for Managed Networks— a complete connectivity solution that consists of routing, switching, and wireless solutions and Software-Defined Wide Area Network (SD-WAN) services. “We are excited to offer world-class
Source: BusinessMirror - 🏆 19. / 59 Read more »