GLOBE GENERATED HIGHER PROFITS FOR Q3 | Marvin Germo

GLOBE GENERATED HIGHER PROFITS FOR Q3

By: Marvin Germo | November 11, 2019

Demand For Data

Again, it’s time to evaluate the companies we are investing in as the third-quarter performance is out. For Globe Telecom, the second to the last quarter has been great since it generated a profit that is 17% higher because of the stronger demand for data-related products and services. The telecommunications company disclosed that the net profit from the month of July to September reach P5.63 billion or 17% higher than the P4.81 generated during the same period last year. For the investors of Globe, here’s the exciting news you can rely on.

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Globe Q3 Figures

According to Globe, if we look at it on a year-to-date basis, the attributable net income of the company was 20% higher or equivalent to P17.68 billion. It operating revenues rose to P41.89 billion or 13% higher during the third quarter, which made the total revenues for the nine-month period to P123.41 billion or with an 11% increase year on year. Meanwhile, the consolidated service revenues jumped by 14% to P37.73 billion from July to September, bringing the year on year total to P110.6 billion or 13% higher. The company noted that the data is 70% of its service revenues, 47% of it from mobile data, 14 % from home broadband, and 9% came from corporate data.

Mobile Business Of Globe

It’s also important that we learn about the mobile business of Globe because it is one of the contributors to its higher net profit. The firm generated P83 billion in revenues for its mobile business from January to September and this increased 13% if we compare it to last year. Mobile revenues remained the top contributor for Globe’s total service revenues because of its prepaid brands. 75% of its total service revenues are from mobiles. As of now, Globe has a total of 97.36 million mobile subscribers as of the end of September.

Net Income For Q2

Globe Telecom, Inc. posted flat earnings during the second quarter of this year. The company reported an attributable net income of P5.32 billion from April to June which is a 0.5% growth from the previous year’s P5.29 billion in the same period. If we take a look at the earnings on a year-to-date basis, the telecommunication firm has already generated a 20.8% higher attributable net income or equivalent to P12.05 billion. This was initially supported by the solid performance of Globe during the first quarter of the year.

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