Globe anticipates growth of its fiber broadband business
GLOBE Telecom, Inc. is expecting its broadband business to expand further after recording a significant growth in the company’s broadband revenues, the telecommunications company said.
“We’re seeing an encouraging uptrend in our fiber broadband business, and our commitment to delivering exceptional service is stronger than ever,” Raymond Policarpio, vice-president of Globe At Home Brand Management, said in a media release on Tuesday.
Globe said it had reported an 18% growth in its year-to-date fiber broadband revenues, which it attributed to the growing demand for internet connectivity in the country.
The company has also recorded a decline in fixed wireless revenues, which it said is an indication of a market shift toward fiber offerings.
“Our focus is not just on expanding our reach but also on acquiring quality subscribers who value longevity and reliability,” Mr. Policarpio said.
The company noted that it is also targeting to widen its fiber connectivity in underserved areas through its fiber prepaid offerings.
“This unlimited prepaid fiber service offers cost-effective options for superior connectivity, ensuring that high-speed internet is within everyone’s reach,” Globe said.
In the third quarter, Globe recorded an attributable comprehensive net income of P4.97 billion down by 27% from P6.81 billion a year ago, amid higher non-operating charges for the period.
The telecommunications company recorded consolidated revenues of P44.27 billion in the quarter, a 3.2% increase from P42.88 billion a year ago, amid strong service revenues.
From January to September, Globe’s attributable comprehensive net profit fell by 27.1% to P19.29 billion from P26.46 billion in the same period last year.
Its nine-month consolidated revenues stood at P133.79 billion, 2.8% higher than the previous year’s P130.2 billion.