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MANILA, Philippines – Globe Telecom, Inc. (GLO) disclosed its consolidated service revenue that is seven percent higher than its record last year. From P83.4 billion, the telco giant booked returns of P89.1 billion.
The growth in revenues of the company is credited to its sustained growth in product segments related to data amid the tough market competition. In addition, the effective efforts of the company in delivering data relevant to the market and its smart solutions in response to customer’s ever-changing demands pushed its profit. Wireless and wire data networks of the company also participated in the success efforts.
Mobile revenues of the telco company climbed by one percent, which is a slight increase on its year-on-year record. For the first nine months of the year, the company reported a P68.3 billion profit higher than its P67.5 billion 2015 report. This is driven by customers’ shift from standard voice and SMS to advanced lifestyles.
TM, the telco giant’s mass-market brand, had a three percent growth from last year. Its postpaid service, on the other hand, booked a two percent climb from last year’s registration. Nonetheless, this was countervailed by prepaid revenues’ drop by one percent.
As of September 30, the mobile subscribers of the company reached 65.4 million, which is a 23 percent increase from 53.1 million last year. This upward adjustment is brought by prepaid gross acquirement at a record level and the descent of its subscribers’ churn rate to 5.8 percent from 6.2 percent last year.
The top contributor of mobile revenue growth is its mobile data services. For the past nine months, the profit increased by 31 percent, a shift from P19.2 billion last year to P25.2 billion this year. Data traffic growth was corroborated by mobile data services growth. In nine months, the improvement went from 176 petabytes (PB) to 249 PB as penetration of smartphones grew to 54% and portfolio of data-driven products expanded.
In the third quarter, the mobile data record dropped from P8.6 billion to P8 billion this year, a seven percent drop due to market volatility. At present, mobile data services hold 38 percent of total mobile returns.
Home broadband services of Globe Telecom increased from P7.8 billion to P10.7 billion. The subscribers increased to 1.15 million.