Globe sees sustained growth in mobile revenues
MANILA, Philippines - Globe Telecom sees continued growth in revenues from its mobile business, amid the strong Philippine economy.
"We expect mobile revenues to continue its growth trajectory as the country’s robust growth has been generating a lot of confidence in the local economy, leading to sustained domestic spending," Globe president and chief executive officer Ernest Cu said.
Mobile business accounts for 80% of Globe's total revenues. In the first half, Globe reported a 8% jump in revenues to P35.8 billion from P33.3 billion a year ago, on growth in postpaid.
"Growth was also complemented by strong subscriber uptake in the first half of the year, stemming from aggressive acquisitions in both postpaid and prepaid segments, leading to overall subscriber net additions of close to three million in the first half which is a 76% surge from a year earlier," he said.
Cu said mobile revenues were backed by higher revenue contributions of unlimited short messaging system, mobile browsing, and other value-added services.
The growing preference for smartphones also helped drive the increase in mobile browsing revenues.