Globe Telecom revenue increases 6% to P82.7 billion in 2012

Telecom Lead Asia: Globe Telecom clocked 6 percent increase in 2012 revenue to P82.7 billion from previous year’s P77.8 billion.

Increase in subscriber base and improvements across key product segments contributed to the revenue growth.

Mobile business generated P67.2 billion revenues in 2012.

This is despite challenging competitive environment, declining yields resulting from value offerings, as well as continued prevalence of multi-SIM incidence.

Net profit last year declined to 6.86 billion Philippine pesos ($169 million) from PHP9.83 billion in 2011, said Globe, the Philippines’ second-largest telecommunications company by sales after Philippine Long Distance Telephone.

Full year broadband revenues increased 16 percent to P8.7 billion.

In Q4 2012, revenues reached P21.4 billion.

In the fourth quarter, mobile business generated P17.3 billion in revenues.

Launch of Apple iPhone 5 contributed to the growth in Q4 revenue.

Mobile subscribers by end of the year stood at 33.1 million, up 10 percent from previous year.

The broadband segment generated P2.4 billion in fourth quarter revenues and was supported by about 1.7 million total broadband subscribers by year-end.

Ernest L. Cu, president and CEO of Globe Telecom, said the company anticipates a more challenging year ahead, given the increasingly competitive environment.

Globe expects to maintain revenue growth momentum in 2013. Revenue is forecast to increase a single-digit amount this year, while $450 million to $500 million has been set aside for capital expenditures, mainly for the continued upgrade of its network.

[email protected]