Mobile games, videos push Globe's profits in H1 2019
MANILA, Philippines – Globe ended the 1st half of the year with a net income of P12 billion, 21% higher year-on-year, on the back of sustained growth across all data-related products and services.
Its service revenues grew by 13% to P72.9 billion, with data driving most of the sales.
Mobile revenues stood at P54.6 billion in the 1st half of the year, surpassing the P49 billion posted in the same period in 2018. Total subscriber base is now at 92.9 million, 11% higher than in the 1st quarter.
Mobile data revenues amounted to P34 billion, as customers used up more data by playing games and streaming videos.
While mobile data traffic grew, mobile voice and messaging revenues for the period slowed down by 17% and 24%, respectively.
Home broadband revenues reached P10.6 billion from January to June, up a solid 21% as home prepaid Wi-Fi became more popular.
Globe's total operating expenses for the period amounted to P34.3 billion, 7% higher year-on-year. The company's overall capital expenditure spending was at P19 billion. (WATCH: Rappler Talk: ICT infrastructure and its impact on national development)
"We are pleased with the company's robust performance and that we are on track with our strategic objectives for this year," said Ernest Cu, president and chief executive officer of Globe.
"We will continue to invest in our 4G and LTE network to enhance the customer experience and reinforce our competitive advantage moving forward." – Rappler.com
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