Globe Telecom Inc. saw its profits rising by almost half in 2022 mainly due to an all-time high topline and the partial sale of its tower assets and its data center business. Know more:
Globe Telecom Inc. saw its profits rising by almost half in 2022 mainly due to an all-time high topline and the partial sale of its tower assets and its data center business.
The mobile operator’s consolidated revenues were up 4 percent to P158 billion, an all-time high, fueled by both corporate data and mobile services. Its core net income, which strips off one-time gains and losses, was 9 percent lower to P19.2 billion from P21.2 billion. “Despite 2022 being a challenging year marked by inflationary pressures, high-interest rates, and weakened consumer confidence, Globe once again showed resilience. We are happy that the Globe Group closed the year with strong topline and EBITDA growth,” Cu said.
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