MANILA -- Globe said its net income reached P20.6 billion from January to September, climbing by 6 percent from the P19.4 billion it saw in the same period last year. 

In a statement, the telco giant said service revenues reached P124 billion, up 2 percent from a year ago.

Globe said its mobile business revenue jumped to P87.7 billion, higher than the P83.2 billion seen in 2023. The company said mobile revenues now account for 71 percent of their gross service revenues. Mobile data alone made P72.9 billion in the first 9 months, the firm said.

Globe's corporate data business posted P15.5 billion in revenues, but home broadband revenues fell 6 percent to P17.9 billion as Filipinos moved to fiber products. 

The firm also said operating expenses fell 2 percent to P59.1. billion because of cost-saving measures and the deconsolidation of ECPay.

Globe President and CEO Ernest Cu said the company remains committed to empowering Filipinos across all economic segments as the digital economy grows.

"Our focus remains on unlocking value as a hyper-focused digital company, winning customers through network improvement and digital innovations while strengthening our core telco business," he said.

Globe takes out P22 billion in loan

FROM THE ARCHIVE: