Globe earned P13 billion in net income in the first half of the year

Globe Telecommunications’ net income for the first six months of 2021 was P13 billion, up 13% from the same time last year, the company announced Friday.

For the first six months of the year, consolidated services revenues totaled P75.5 billion, up 4% over the same period last year.

According to Globe Telecom, the time spent on mobile applications increased even more as the health crisis affected the Filipino lifestyle across work, education, entertainment, gaming, health, socializing, and shopping behaviors.

According to the telecom, data, home broadband, and a rise in digital activities during the COVID-19 epidemic are among the period’s growth drivers.

According to the company, mobile data revenues reached P38.6 billion in the first half, while residential broadband revenues set an “all-time high” of P14.5 billion.

“Despite the reimposition of harsher lockdowns during the second quarter, we are glad to report good financial operating results for the first half of 2021, with a stable balance sheet and cash flows,” Globe President and CEO Ernest Cu stated.

Globe said that its total mobile subscribers had reached 81.7 million, with 4.2 million internet subscribers.

As of June, it had spent a total of P43.3 billion on capital expenditures, according to Globe.

In September, Globe, PLDT’s Smart Communications, and DITO Telecommunity will launch mobile number portability, allowing customers to move providers without changing their phone numbers.

Source: ABS-CBN News

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