PH telco major Globe nets $445m in revenue from broadband

Globe Telecom, one of the major telecommunications operators in the Philippines, announced that its home broadband revenues posted a record P22.4 billion ($445 million) at the end of September.

The figure is a 15% increase from the same period compared in the year 2020.

The increase is accelerated by the digital habits of Filipinos during the pandemic that drove the sustained exceptional performance of Globe’s broadband business, the company said.

The 39% rise is considered even more significant compared to the same period before the COVID-19 outbreak.

Globe At Home’s subscriber base now rose to 3.7 million from 3.5 million in the first nine months. This represents a 32% increase in the wired broadband customer base.

Home Prepaid WiFi data traffic jumped 79% to 628 petabytes from 352 petabytes in the same period of 2020.

Ernest Cu, Globe President and CEO, said the milestone in their broadband business is a testament to their #1stWorldNetwork commitment.

“Despite the challenges brought about by the ongoing pandemic, our teams delivered on the needed fiber builds which brought connectivity to more Filipino homes nationwide,” he said in a statement.

To keep up with the constantly increasing demand for connectivity at home, Globe also worked double-time to put up Fiber To The Home (FTTH) lines. FTTH is considered a more effective way to deliver data over long distances.

To date, it has already installed over one million FTTH lines. It already surpassed its full-year target. With its pace, it expects to roll out 1.4 million FTTH lines by year-end.

Globe has yielded a 240% rise in FTTH subscribers for the same period, while fiber revenues went up by 169%.

Since January of 2021, Globe has already spent a record level of P65.4 billion in capital expenditure. This is more than the 2020’s full-year investment of P60.3 billion.

The telecommunications company spent 84% of its Capex to data network builds to help boost mobile and internet experiences for many Filipinos.