Globe’s Q3 revenues slightly up

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DESPITE the global health crisis and its negative impact on the Philippine economy, Globe’s third quarter consolidated service revenues improved versus last quarter’s performance by three percent.

This brought the total consolidated service revenues for the first nine months of 2020 to reach P109.1 billion, down by one percent from the record P110.6 billion achieved a year ago. Total data revenues across mobile, broadband and corporate data accounted for 75 percent of total service revenues from 70 percent last year.

The performance of the company is still driven by increasing data consumption, arising from the shift of Filipinos to more online activities and adapting to the new ways of working, learning, shopping, banking and entertaining from their homes.

Globe’s net income went down 10 percent to P15.9 billion due to the drop in Ebitda and higher depreciation charges.

Similarly, core net income declined 13 percent, year-on-year, from P17.9 billion. (PR)