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Globe broadband biz posts PHP 7.4 billion revenues in Q1

Globe Telecom's broadband business saw its revenues surge 27 percent to a whopping PHP 7.4 billion as its subscriber base further grew in the first quarter of 2021.

Globe broadband biz posts PHP 7.4 billion revenues in Q1
File photo: Globe logo

Globe broadband subscriber base breaches 4 million

The Ayala-led telco said the revenue figure was its "highest so far in the telco's history."

This, as the coronavirus pandemic, boosted the demand for reliable internet connections. Globe also passed the 4 million subscriber mark in the January to March period, or 81 percent higher from last year's figure.

In the first six months of 2020, the economy was largely free from the effects of COVID unlike in 2021. Yet we manage to have an improved year-on-year performance despite the semi-lockdown during this period, said Ernest Cu, Globe President, and CEO.

Ending the quarter, Home Prepaid WiFi data traffic climbed to 211 petabytes compared to the 58 petabytes in 2020.

The strong performance of this segment also lifted Globe's profit to PHP 7.3 billion, 11 percent higher than a year ago.

Despite the pandemic, the Globe chief said the group will continue to have massive efforts and investments towards network and service upgrades.

Looking ahead, we believe that Globe is well-positioned to provide more digital solutions and innovative offers to make our services more relevant to our valued customers, especially during this time of crisis. Our 5G and fiber rollout as well as the continuous upgrading of our network will remain our utmost priority, as reliable connectivity is indispensable, both to overcome the pandemic and help fuel the recovery of the country's economy, Cu said.

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