Globe logged a record-breaking third-quarter revenue of P40.7 billion, surpassing the second quarter’s P40.4 billion. According to a press release, this growth is attributed to a robust performance in mobile and high Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), demonstrating resilience and strategic agility despite the challenging economic landscape.
EBITDA rose to P20.2 billion from July to September, maintaining a 50 percent margin that aligns with Globe’s guidance. This is also a testament to the company’s sustained GSR expansion and underscores the company’s operational excellence.
“We are quite pleased with how business has shaped up so far this year, considering interest rates, and inflation,” said Globe President and CEO Ernest Cu. “The consistent rise in our consolidated service revenues indicates the strength and flexibility of our business model, even in demanding economic circumstances. Our third quarter results demonstrate that our telco business is performing in line with our expectations.”
Further bolstering this quarter’s success is Globe’s nine-month performance report, which reflects a remarkable 3 percent year-on-year increase in consolidated service revenues, totaling P121.1 billion despite prevalent macroeconomic headwinds.
The Globe Group’s consolidated EBITDA for the first nine months hit P60.7 billion, another all-time high. The EBITDA margin stood at 50 percent, reflecting a disciplined approach to growth and expenditure.
Data revenues remain a stronghold for Globe, accounting for 82 percent of the top-line revenues, generating P99.6 billion from January to September.
The mobile business soared to P83.2 billion, crediting the company’s data-centric offerings that resonate with customer needs amid inflationary pressures. The corporate data business also saw an 8 percent surge, reaching P13.6 billion, due to a 20 percent increase in Information and Communications Technology (ICT) services.
Cu also maintains a positive outlook about the future, saying “As we continue to navigate the post-pandemic landscape, we remain committed to providing value-driven, quality service to our customers, and we are optimistic about the opportunities ahead.”*
