Globe Telecom Reports 9% Rise In Q114 Net Profits

News: Philippines-based operator Globe Telecom reported a four-fold rise in net profits to PHP2.95bn (USD67.6mn) in Q114, compared with PHP660mn (USD15.12mn) in Q113, as core profit grew by 9% to PHP3.4bn (USD148.37mn) on the back of rising demand across all business segments. The operator registered a 9% year-on-year rise in consolidated service revenue to PHP23.2bn (USD531.63mn) in Q114. The rise was mainly due to an increase in the mobile and broadband subscriber base. The operator's capital expenditure will be PHP27bn (USD618.71mn) in 2014, of which 25% will be invested in 3G/4G expansion and upgrades. Globe is also optimising its 3G/4G networks, while constructing more sites and improving its transport system to enhance capacity.

This article is tagged to:
Related sectors of this article: Telecoms
Geography: Philippines

Enter your details to read the full article

By submitting this form you are acknowledging that you have read and understood our Privacy Policy.