Globe reported a quarterly revenue of P40.7 billion in the third quarter, surpassing its record of P40.4 billion from the previous quarter.
This growth story is attributed to the performance of its mobile services and a surge in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), showcasing resilience and strategic adaptability in the face of challenging economic conditions.
During the period of July to September, EBITDA surged to P20.2 billion, maintaining a 50% margin in line with Globe’s outlined objectives. This surge not only highlights the company’s sustained expansion in Gross Service Revenues (GSR) but also emphasizes its operational prowess and efficiency.
Globe reiterates warning vs spam, scam messages
Globe’s 9-month revenue reaches P121 billion
“The consistent growth in our overall service revenues underscores the robustness and flexibility of our business model, even amidst tough economic conditions,” said Ernest Cu, president and CEO of Globe. “Our third-quarter results affirm that our telecom business is meeting our expectations.”
Mobile and data services
Adding to this is Globe’s nine-month performance report, showing a 3% year-on-year increase in consolidated service revenues, reaching P121.1 billion.
The Globe Group also reached a historic high with consolidated EBITDA hitting P60.7 billion in the first nine months, maintaining a 50% margin, signaling a disciplined and balanced approach to growth and expenditure.
Data services remain the bedrock of Globe’s success, contributing significantly to the top-line revenues with a total of P99.6 billion generated from January to September, accounting for 82% of the revenue stream.
The mobile sector experienced a significant surge, hitting P83.2 billion, attributed to Globe’s data-centric offerings that resonated with customers even amid inflationary pressures.
The corporate data business saw an 8% increase, reaching P13.6 billion, driven by a substantial 20% rise in Information and Communications Technology (ICT) services.