[ad_1]
This is a good 1st quarter for Globe, with net profit up 40% thanks to higher data usage by customers
BENEFITS. Globe raises 6.7 billion pesos for the first quarter of 2019. Globe logo
MANILA, Philippines – Telecommunications giant Globe has released impressive financial results for the 1st quarter of 2019, with net profit up 40% to 6.7 billion euros, the company announced Monday 6 may.
Globe's revenues also grew by 13% to 36 billion pesetas compared to the same quarter of 2018, thanks to a steady increase in data use. (READ: mobile data increases Globe's net profit to 18.4 billion pesos in 2018)
Mobile revenues for the quarter reached 27 billion pesos, 11% higher than the same period in 2018 and 4% higher than the previous quarter, mainly from prepaid brands. Of this figure, mobile data revenue was P16.5 billion, reflecting strong consumer spending on mobile data.
Mobile data traffic increased from 180 petabytes in the first quarter of 2018 to 370 petabytes over the same period in 2019.
IN PROGRESS: @enjoyGLOBE Officials discuss the company's performance in the first quarter of 2019. Globe closed the first three months of 2019 with consolidated service revenues of 36 billion pesos, up 13% year-over-year previous year and 3% compared to the previous quarter. @rapplerdotcom pic.twitter.com/LIcgTTJHBj
– Ralf Rivas (@RalfRivas) May 6, 2019
Meanwhile, voice and mobile text messaging revenues for the past period have been released P$ 6.3 billion and $ 4.2 billion, down 15% and 22% respectively from the previous year, which also reflects the shift from consumers to mobile data.
Home broadband was up 21% from the previous quarter and up 3% from the previous quarter to 5.2 billion pesos. The total number of Globe home broadband subscribers now stands at over 1.7 million, or 22% more than a year ago.
"For 2019, we are confident in our ability to maintain this strong growth through aggressive investments in the network, associated with changing lifestyles that aim to strongly influence the digital lives of Filipinos," said Ernest Cu. .
Globe has already spent some 8.8 billion pesos, or 24 percent of total revenues. Most expenditures, 68%, were spent on data services.
The company has several plans to further improve the customer experience, including the deployment of 5G in June. – Rappler.com
We hear business by providing you with the latest information on the economy. But as the saying goes, a free lunch does not exist.
Rappler aims to continue to provide free and fearless journalism – without payment walls and editorial independence from outside interests.
However, we need your help. The support of the readers allows us to continue to tell more stories.
By joining Rappler PLUS, you will receive our editorial newsletters and industry reports, participate in exclusive online conversations with our award-winning journalists and be part of our monthly events.
Make your move now. Join Rappler PLUS.
[ad_2]
Source link
