Globe posts highest broadband revenues in 1Q 2021

Published May 14, 2021, 11:07 AM

by Emmie V. Abadilla

Globe Telecom Inc.’s home broadband business grew 27 percent to P7.4 billion in the first quarter of the year, its highest take so far, in the company’s history on robust internet connection demand during the pandemic.

In a statement, Globe said, the continuing pandemic boosted demand for internet connections, with total home broadband subscribers now breaching the 4 million mark, 81 percent higher from last year’s figure.

This was mainly supported by the sustained fixed wireless broadband users’ expansion, now up by 105 percent from last year

President and Chief Executive Officer Ernest L. Cu

Penetration in the prepaid market and high-speed postpaid wired acquisitions likewise grew.

As of end-March 2021, Home Prepaid WiFi data traffic rose to 211 petabytes from 58 petabytes last year.

Globe’s net income stood at P7.3 billion for the January to March period, up 11 percent year on year.

“In the first six months of 2020, the economy was largely free from the effects of COVID unlike in 2021,” according to Ernest Cu, Globe President and CEO.

“Yet we manage to have an improved year on year performance despite the semi-lockdown during this period.”

“Looking ahead, we believe that Globe is well positioned to provide more digital solutions and innovative offers to make our services more relevant to our valued customers, especially during this time of crisis,” he noted.

“Our 5G and fiber rollout as well as the continuous upgrading of our network will remain our utmost priority, as reliable connectivity is indispensable, both to overcome the pandemic and help fuel the recovery of the country’s economy,” Cu underscored.