Telecom Lead Asia: Globe Telecom posted revenue of
PHP21.33 billion for the second quarter of 2012, up 4.8 percent from a year
earlier.
Net profit stood at PHP2.26 billion pesos ($54.2 million)
in the second quarter, fell 9.7 percent from PHP2.51 billion in the
year-earlier period.
Globe’s April-June net profit is also 16 percent lower
than the PHP2.70 billion it posted in the first quarter as revenue declined 1%
from the previous quarter.
For the six months to June, net profit fell 10 percent to
PHP4.97 billion, while revenue climbed 6 percent to PHP42.79 billion. The
company’s costs and expenses jumped 12 percent to PHP25.11 billion.
Speaking on the results, Ernest Cu, president and chief
executive at Globe telecom said that service revenue was a quarterly record of
PHP20.52 billion, helped by good performances at the company’s mobile telephone
and broadband service operations despite stiff competition.
He added that the company is also pushing ahead with
various marketing and promotional initiatives and is seeking new distribution
channels for its products.
In an official release, Globe said that it is stepping up
efforts to complete its network upgrade earlier than scheduled and expects
subscribers to start experiencing service improvement in the third quarter.
The company’s $790 million network upgrade started in
late 2011 and is expected to be completed within 36 months.
Globe Telecom to invest over $90 million for IT transformation
Globe Telecom is investing over $90 million for its IT
transformation.
The telecom operator has tied up with BSS major Amdocs to
modernize and consolidate its business support and data warehouse systems and
processes.
editor@telecomlead.com
