Globe Q1 net income exceeds pre-pandemic level

In a report, Globe said that its revenues registered a four percent increase versus the same period last year, surpassing pre-pandemic levels on the back of its data business, as more users went online to work, learn, do business transactions and entertain themselves.

Accordingly, core net income, which excludes the impact of non-recurring charges, and foreign exchange and mark-to-market charges, ended at ₱5.1 billion for the quarter. Similarly, normalized core net income was kept flat year-on-year. The bulk, 82 percent of the capex went to data-related requirements to handle the surge in demand for digital services and to provide a higher level of digital experiences for its customers nationwide.

Meanwhile, mobile voice and mobile SMS revenues ended at ₱3.9 billion and ₱2.1 billion, lower year-on-year by 17 and 11 percent, respectively. On the other hand, the strong commitment of Globe to deliver fiber technology to more homes in the country resulted to an increase in fiber revenues and fiber subscribers against last year by 165 and 155 percent, respectively.

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