Globe’s 9-month net income up 20% at P17.7B

Ayala-led Globe Telecom Inc. posted a double-digit growth in bottom line during the first nine months of 2019 on the back of subscribers’ higher data consumption.

Consolidated net income reached P17.7 billion, up 20% from P14.79 billion year-on year, Albert de  Larrazabal, Globe chief commercial officer, said in a press conference in Taguig City on Thursday.

Consolidated service revenue grew by 13% to P110.6 billion from P97.94 billion a year earlier.

“Consistent with the trend of the few quarters, data continues to drive growth ..." Larrazabal said.

Mobile data traffic jumped to 1,200 petabytes from 641 petabytes in the same period last year.

Revenue from mobile business stood at P83 billion, up 13% from P73.69 billion.

Home broadband saw a 19% growth to P16 billion from P13.55 billion a year earlier.

In terms of subscriber base, mobile and the home broadband segments saw 97.4 million subscribers and 1.9 million subscribers, respectively.

Earnings before interest, tax, depreciation and amortization (Ebitda) amounted to P57.85 billion from P49.29 billion. —VDS, GMA News