Home broadband business drives Globe’s Q2 profit growth

Globe Telecom, Inc. reported its second-quarter attributable internet revenue elevated by 16% to P5.68 billion from P4.9 billion in the identical interval final yr, as its house broadband enterprise continued to develop.  

This introduced the telecommunications large’s internet revenue to P12.98 billion within the first half, 13% increased than the P11.48 billion posted a yr in the past. 

“We’re happy to report sturdy monetary and working outcomes for the primary half of 2021 with wholesome stability sheet and money flows regardless of the re-imposition of stricter lockdowns in the course of the second quarter,” Globe President and Chief Govt Officer Ernest L. Cu mentioned, noting progress within the firm’s 5G and fiber rollouts. 

“Going ahead, we’ll keep targeted on innovation within the areas of fintech, healthcare, training, and e-commerce, amongst others, to assist Filipinos thrive on this pandemic and finest place ourselves for the rest of 2021 and past.”  

Whole revenues posted by the Ayala-led telco jumped 9.9% to P41.36 billion within the second quarter, bringing the first-half complete 7% increased to P84.2 billion. 

Service revenues, which embrace cell, house broadband, company information, and stuck line voice, rose by 5.9 % to P37.65 billion within the April to June interval. For the primary half, consolidated service revenues reached P75.45 billion, up 4% from a yr in the past.  

“The primary progress driver continues to be information, largely from @House Broadband owing to the rise of digital actions amongst Filipinos. Whole information revenues accounted for 79% of complete service revenues from 76% final yr,” Globe mentioned.  

Revenues from the house broadband enterprise reached P7.18 billion within the second quarter, driving the first-half complete to a record-high P14.5 billion.  

Subscribers of Globe’s house broadband service rose 47% to 4.2 million as of end-June.  

Second quarter cell revenues stood at P26.25 billion, pushing first-half revenues to P52 billion — 1% increased year-on-year.  

In the meantime, non-service revenues surged 78% to P3.71 billion within the second quarter, bringing the first-half complete 36% increased to P8.74 billion.  

Globe’s capital expenditures reached P43.3 billion within the first half, with the 88% spent on information community builds.  

Globe shares rose 2.53% or P49 to shut at P1,985 every on Friday. — JPI  

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