Industrydailyobserver | Globe logs record quarterly revenues at P40B driven by data services | Amid the challenging economic landscape, Globe has achieved a new record quarterly revenue of close to P40 billion, fueled by the solid contribution of data-related products and services across mobile and corporate data and supplemented by the performance of non-telco services.
The strong revenue performance went above the growth rates before the pandemic. It brought the year’s first-half consolidated service revenues to an all-time high of P78.9 billion, up 4% year on year. Total data revenues also rose to 81% of total service revenues from 79% last year.
As the new normal pushed more people to the digital world and accelerated digital adoption, mobile data revenues grew by 8% to reach ₱41.8 billion in the first half of the year from ₱38.6 billion in the same period of 2021.
“With digitalization, data use is growing rapidly and we already see it impacting our bottom line and shaping the way we do business. Data is bringing a lot of excitement within Globe. We will continue to improve our network and come up with new products and services to meet the changing needs of the market,” said Ernest Cu, Globe President and CEO.
Mobile data traffic jumped to 2,177 petabytes as of end-June, beating the 1,761 petabytes reported in a similar period last year. Mobile data now accounts for 77% of mobile revenues from 73% from the same time last year.
Globe’s mobile data services allow subscribers to access the internet using various technologies. Customers can choose from a variety of consumable and unlimited data plans or create their own promo. They can also enjoy a full range of downloadable content, participate in interactive TV, do video calls and chat, and play games, among others.
Its efforts to make data available to more people is part of its mission to support Filipinos’ digital enablement, in line with the United Nations Sustainable Development Goals, which highlights the roles of infrastructure and innovation as crucial drivers of economic growth and development.
Globe’s corporate data revenues, meanwhile, sustained double-digit growth of 21%, generating a historic high of ₱8.2 billion this period from ₱6.7 billion from the same time last year.
The exceptional performance was powered by the uptick from information and communications technology (ICT) and international leased line services. Growth from ICT was largely from business application services, cloud solutions, and cybersecurity services.
Globe Business provides end-to-end premium-grade access solutions combining voice, broadband, and video offerings designed to address specific business connectivity requirements, whether local or international.
It has two international cable landing stations situated in different locales to ensure redundancy and network resiliency.
To learn more about Globe, visit www.globe.com.ph.