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Globe Telecom rises on GCash service expansion overseas, earnings report - BusinessWorld Online

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Globe Telecom, Inc. was one of the most actively traded stocks last week after the announcement of its electronic payment platform’s overseas expansion and the release of its full-year financial report. READ:

February 20, 2023 | 12:01 amGLOBE Telecom, Inc. was one of the most actively traded stocks last week after the announcement of its electronic payment platform’s overseas expansion and the release of its full-year financial report.

Ryan Vincent L. Parlade, equity analyst at The First Resources Management and Securities Corp., said the stock’s growth was mainly due to the overseas service expansion of e-wallet GCash. G-Xchange, Inc., a subsidiary of Globe Fintech Innovations, Inc., or Mynt, said the approval of the beta launch of GCash Overseas will make it the first and only e-wallet in the Philippines to have this capability.

“Globe’s performance for this week was primarily influenced by the guidance which was provided during their fourth quarter and full-year briefing. One of the issues adding concern to investors is how the SIM Registration law would affect its mobile subscriber count and likewise, its churn rates,” Mr. Limlingan said.

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