Details about Globe Telecom Net Income from January to September 2021
GLOBE TELECOM – The telecommunications services provider company revealed its net income from January to September amid the crisis in the Philippines.
The impacts of the COVID-19 pandemic led a lot of companies to a dead-end no business owner wants to see – the permanent closure. Most of these firms that were left with no choice rely on daily operations for their businesses to survive. However, part of the battle against the pandemic are the restrictions.
While some businesses had no choice but to close, there are also those that were able to stay afloat amid the crisis in the Philippines now. Most of them had to come up with abrupt strategies on how to balance things while the situation has yet to return to normalcy.
There are also businesses that have services that became more in-demand amid the pandemic in the Philippines. Thus, one huge challenge for them is to cope with the increasing requests of the clients. One of these is Globe Telecom.
Globe Telecom, one of the biggest telecommunications services providers in the Philippines, posted a net income of P18 billion from January to September 2021. Based on a report on ABS-CBN News, it is 13% higher compared to the P15.9 billion net income in the same period last year.
According to Globe, their core net income grew by 17% from P15.6 billion last year to P18.3 billion this 2021. With regards to their consolidated service revenue, it reached P113.6 billion from January to September. It is 4% higher compared to the consolidated service revenue last year. The telecommunications services provider company said that the revenue in the third quarter of this year reached P38.1 billion.
Based on the report, Globe Telecom said that for the first three (3) quarters of 2021, it installed a total of more than one (1) million fiber-to-the-home lines which is above the target set by the telecommunications services provider firm. By the end of 2021, it targets to reach 1.4 FTTH lines.
In line with its pursuit for expansion, Globe built 1,080 new cell sites from January to September 2021. It listed a “record-breaking” spending of P65.4 billion for the period. The company continues to boost its services for its clients.
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