Globe logs 8% Q1 growth in mobile revenues

Globe posted an 8% increase in mobile revenues for the first quarter of 2024, reaching Php 29.1 billion, compared to Php 27.1 billion in the same period last year, largely driven by mobile data usage.

The growth in mobile spurs optimism in the sector despite challenging economic conditions impacting consumer spending, according to the company.

The company’s mobile business represented 71% of total consolidated gross service revenues, up from 68% a year ago, underscoring Globe’s effective monetization efforts coupled with market repair in the absence of price wars with competitors.

Customers continue to choose Globe for its differentiated network quality and service. Globe’s subscriber base stood at 58.8 million as of end-March 2024.

Mobile data was a significant driver of mobile revenues, with its contribution rising by 10% to Php 23.8 billion from Php 21.7 billion. Mobile data constituted 82% of total mobile revenues, up from 80% the previous year.

Darius Delgado, Head of Globe’s Consumer Mobile Business, cited the stability of Globe’s active loader base as a reflection of business performance.

“We see our efforts being affirmed by our customers as our Net Promoter Scores continue to improve over and above Asia-Pacific benchmarks, hence our ability to keep our paying base stable, with ARPUs growing at a healthy pace, even as economic constraints persist,” said Delgado.

“This is an equation that tells me we are delivering an experience worthy of our customers’ spend and loyalty,” he added.

Mobile data growth is fueled by the increasing reliance of Filipinos on mobile devices for a variety of activities, including online shopping, streaming media, and social media engagement. The widespread adoption of smartphones and the popularity of data-intensive applications are also key factors contributing to this upward trend.

The scenario showed shifting consumer preferences from traditional voice and SMS services. Voice and SMS revenues were reported at Php 3.4 billion and Php 1.9 billion, marking a year-on-year decrease of 2% and 3%, respectively.