Globe Telecom Inc. said on Monday it is “on track” with its network rollout, citing its capital expenditures (capex) spend in January to September.
In a statement, Globe Head of Network Planning and Engineering Joel Agustin said Globe has spent P74.7 billion in capex as of end-September, a figure that is 14 percent higher than the year prior, to widen its reach and further bolster its network.
Globe has allotted P89 billion for its capex program this year to build more cell sites, upgrade existing ones, deploy 4G and 5G radios, and add more fiber lines across the country.
So far, the network investment has yielded 1,064 new cell sites, 10,600 mobile sites upgraded to LTE, and 1,887 new 5G sites nationwide.
Close to 1.4 million fiber to the home (FTTH) lines were also deployed as of end-September 2022, compared to over 1 million lines from a year ago.
“Globe’s network rollout momentum continues and is expected to surpass last year’s builds. These accelerated upgrading and network expansion efforts will not only deliver a more consistent level of network quality but will further elevate the standard of connectivity in the country,” Agustin said.
He added that the network upgrade and expansion initiative drove Globe’s win as the “Most Reliable Mobile Network in the Philippines,” according to Ookla.
The Ayala-led telco booked a net income of P26.5 billion, a 48 percent rise from P18 billion the year prior. This was driven mainly by a 3-percent increase in revenues to P118 billion as well as the P8.4 billion one-time net gain from the sale of its data center business and the P1.4 billion sale-and-leaseback transaction of its tower assets.
Its core net income—which strips off the impact of non-recurring charges, and foreign exchange and mark-to-market charges—stood at P16.0 billion for the period.