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Published May 7, 2021, 3:40 PM
Revenues up 3% at P37.8 B
Globe Telecom Inc. weathered the extended lockdown, with P37.8-billion revenues, up 3 percent in the first quarter of 2021, with a robust contribution from its broadband data segment, and its net income is up 11% to P7.3 billion.
Although 2021 promises to be “a very challenging year, Globe is weathering it well because we’re a staple. People depend on us as a service,” Ernest L. Cu, President and CEO stated Friday, (May 7) in virtual presscon.
President and Chief Executive Officer Ernest L. Cu
The telco’s data revenues accounted for 79% of total service revenues from 75% last year, fueled by the rising data connectivity demands of consumers for remote working, entertainment, E-commerce, and education.
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.
BusinessWorld
April 23, 2021 | 8:05 am
By
Bjorn Biel M. Beltran
Though far from a complete panacea to the country’s troubles during the COVID-19 crisis, digital technology and connectivity have been instrumental in minimizing the pandemic’s impact. In fact, the rapid adoption of digital technologies was recommended by the World Bank to help the Philippines overcome the impact of the COVID-19 pandemic, recover from the crisis, and achieve its vision of becoming a middle-class society free of poverty.
A joint report released by the World Bank and the National Economic and Development Authority (NEDA) in October last year, titled “A Better Normal Under COVID-19: Digitalizing the Philippine Economy Now,” found that the use of digital technologies such as digital payments, e-commerce, telemedicine, and online education, has risen in the country, softening the pandemic’s blow to individuals, businesses, and the government.
It’s all in the spirit of becoming a #1stWorldNetwork.
“Aside from faster speeds, our goal has always been to give consumers easy access to all the digital use cases they desire,” President and Chief Executive Officer Ernest L. Cu underscored.
President and Chief Executive Officer Ernest L. Cu
“In the Philippines, this translates mostly to social media, messaging, streaming videos and music,” he explained.
“And this has been happening as a result of our consistent network performance which offers a better connectivity experience for our customers,” the CEO pointed out.
Already, the telco’s aggressive cell tower builds improved internet speeds and higher Consistency Scores, as independent analytics firms confirmed.