Globe net income dips 27 pct in first half of 2023


Posted at Aug 14 2023 10:16 AM | Updated as of Aug 14 2023 10:44 AM

MANILA -- Globe Telecom on Monday said its net income dipped 27 percent in the first half of 2023 on the back of a one-time gain on the partial sale of its data center business in the same period last year. 

The telco giant's operating expenses also jumped to P39.9 billion from January to June, against P38.3 billion in the same period in 2022. 

Globe's total service revenues, however, were up 2 percent to P80.4 billion because of improvements in mobile data, corporate data, and digital service.

The company said total data revenues in the first six months climbed to P65.9 billion. Mobile business revenues also went up one percent to P54.8 billion because of growth from the company's prepaid brands. 

Mobile data revenues also went up 5 percent to P44 billion in the first half from January to June. 

Non-telco revenues, meanwhile, climbed to P2.8, billion from P1.9 billion the year before. 

Globe's net income for the first quarter stood at P7.3 billion, lower by 47 percent compared to the P13.7 billion in the same period in 2022.


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