Globe income rises 11% on lower non-operating charges, CREATE law
May 7, 2021 | 7:23 pm
BW FILE PHOTO
Globe Telecom, Inc. announced on Friday an 11% increase in its first-quarter attributable net income, owing to a newly signed tax relief law and a decrease in non-operating charges.
Globe’s attributable net income reached P7.31 billion in the first three months, up from P6.58 billion in the same period in 2020, the Ayala-led telco said in a statement to the stock exchange.
“Despite the resurgence of COVID-19 (coronavirus disease 2019) cases in the country and the lingering uncertainties from the pandemic, we are encouraged by the improvements in Globe’s first quarter results,” Globe President and Chief Executive Officer Ernest L. Cu said.