GLOBE Telecom Inc. on Friday announced a 6-percent increase in net income for the first nine months of 2024 to P20.6 billion compared to P19.4 billion in the same period last year.
Excluding a one-time gain from tower sales, the Ayala-led telecom company said that normalized net income would have stood at P17.8 billion, or up 20 percent from a year earlier.Also excluding the impact of nonrecurring charges, foreign exchange and mark-to-market charges, Globe 's core net income expanded 19 percent year on year, hitting P17.6 billion.
7 billion in revenues, surpassing the previous peak of P83.2 billion that was notched a year ago.The corporate data business also achieved a record P15.5 billion in revenues, up 14 percent year on year.Home broadband revenues, however, fell 6 percent year on year to P17.9 billion by the end of September 2024.Globe said the decrease was due to the reduction in fixed wireless services as consumers continued to move away from the technology into fiber products.
Nine-Month Net Soars To P20.6B
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