Globe fiber takeup soars 155% in Q1 2022

Globe Telecom Inc. sees a "tremendous growth" with its fiber broadband subscriber takeup soaring 155 percent from January to March this year versus the same period in 2021, said Issa Guevarra-Cabreira, Globe Chief Commercial Officer.

"There's still latent demand in the industry, and we will continue our accelerated fiber rollout to capture that demand. In the coming quarters,” she noted.

Correspondingly, the high fiber broadband subscriber growth boosted the telco's fiber revenues by 164 percent..

The strong fiber performance contributed significantly to the sustained growth of Globe’s fixed wired business, which registered a 31 percent increase in both subscribers and revenues year-on-year.

As Globe turned to an accelerated fiber strategy, it built lines 1.74 times more in the first quarter of the year than in the same period last year.

To improve internet experience, Globe provides its customers free migration to fiber.

“Our customers already prefer the wired solution. As we brought them out of our wireless and legacy technology, then we will see growth in the coming months,” according to the COO.

Last year, the telco spent P92.8 billion for network expansion and improvements. This 2022, Globe earmarked P89 billion for its capital expenditures.

A large portion of the capex goes to data-related requirements to build its fiber assets, put up more cell sites, upgrade towers to 4G LTE, and roll out 5G technology and in-building solutions.