Globe Broadband H1 revenues up 13% to P4.1B y-o-y

Globe Telecom’s broadband revenues went up 13% year-on-year to P4.1 billion in the first half, driven by social networking and lower prices of tablets, personal computers and laptops that – in turn – drive more Filipinos over to the Internet.

 

The telco’s broadband subscriber base grew to nearly 1.6 million as of end-June 30, up 22 percent from about 1.3 million a year earlier, the company said in a statement Thursday.

 

In the five years to 2011, Globe noted its broadband service grew almost 100 percent on average per year in terms of subscribers and 84 percent in service revenues.

 

"While we expect competitive and market pressures to intensify, we are confident that we can build further on our momentum as we head into the second half of the year,” said Globe president and CEO Ernest L. Cu.

 

Part of the company’s $700-million network modernization program is devoted to expanding 3G and 4G coverage, increasing by ten-fold its data capacity, and adding 12,000 kilometers of fiber optic cables to enhance online speeds and service reliability, Globe said. — VS, GMA News