Globe logs new record-high quarterly revenue at PHP40.7B driven by mobile, EBITDA

Globe logged a record-breaking third-quarter revenue of PHP40.7 billion, surpassing the second quarter’s PHP 40.4 billion. This growth is attributed to a robust performance in mobile and high Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), demonstrating resilience and strategic agility despite the challenging economic landscape.

EBITDA rose to PHP 20.2 billion from July to September, maintaining a 50% margin that aligns with Globe’s guidance. This is also a testament to the company’s sustained GSR expansion and underscores the company’s operational excellence.

“We are quite pleased with how business has shaped up so far this year, considering interest rates, and inflation,” said Globe President and CEO Ernest Cu. “The consistent rise in our consolidated service revenues indicates the strength and flexibility of our business model, even in demanding economic circumstances. Our third quarter results demonstrate that our telco business is performing in line with our expectations.”

Further bolstering this quarter’s success is Globe’s nine-month performance report, which reflects a remarkable 3% year-on-year increase in consolidated service revenues, totaling PHP 121.1 billion despite prevalent macroeconomic headwinds.

The Globe Group’s consolidated EBITDA for the first nine months hit PHP60.7 billion, another all-time high. The EBITDA margin stood at 50%, reflecting a disciplined approach to growth and expenditure.

Data revenues remain a stronghold for Globe, accounting for 82% of the top-line revenues, generating PHP99.6 billion from January to September.

The mobile business soared to PHP83.2 billion, crediting the company’s data-centric offerings that resonate with customer needs amid inflationary pressures. The corporate data business also saw an 8% surge, reaching PHP13.6 billion, due to a 20% increase in Information and Communications Technology (ICT) services.

Cu also maintains a positive outlook about the future, saying “As we continue to navigate the post-pandemic landscape, we remain committed to providing value-driven, quality service to our customers, and we are optimistic about the opportunities ahead.”

Globe’s third-quarter achievements and nine-month financial highlights underscore the company’s robust strategy and customer-centric approach. As Globe continues to innovate and diversify, it stands well-positioned to maintain its growth trajectory and stakeholder value in an evolving digital economy.

To learn more about Globe, visit https://www.globe.com.ph/.