Globe posts P13-billion net income in first half

ABS-CBN News

Posted at Aug 06 2021 12:13 PM

MANILA - Globe Telecommunication’s net income hit P13 billion for the first 6 months of 2021, higher by 13 percent compared to the same period last year, it said Friday.

Consolidated services revenues reached P75.5 billion for the first 6 months of the year, up 4 percent compared to the same period last year.

“Given that the health crisis has changed the Filipino lifestyle across work, education, entertainment, gaming, health, socializing, and purchasing habits, the time spent on mobile applications increased even more,” Globe Telecom said. 

Data, home broadband and the increase in digital activities during the COVID-19 pandemic are among the growth drivers for the period, the telco said.

Mobile data revenues hit P38.6 billion for the first half, while home broadband’s revenues reached an "all-time high" of P14.5 billion, it said. 

“We are pleased to report strong financial operating results for the first half of 2021 with a healthy balance sheet and cash flows despite the reimposition of stricter lockdowns during the second quarter,” Globe president and CEO Ernest Cu said.

Globe said its total mobile subscribers reached 81.7 million while its broadband subscribers totaled 4.2 million. 

It has also spent a total of P43.3 billion in capital expenditure as of June, Globe said. 

Globe, along with PLDT's Smart Communications and DITO Telecommunity will implement the mobile number portability in September, which will allow consumers to switch providers without changing their numbers.

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