Globe Telecom Inc. said on Wednesday it fired up 356 new 5G sites in the Philippines in the first half, bringing its 5G outdoor coverage in the National Capital Region (NCR) to 97.44 percent and to 91 percent in key cities in Visayas and Mindanao.
This, according to Globe SVP Joel Agustin, supports the 5.2 million 5G devices that use the telco’s network.
“Our relentless pursuit of expanding 5G technology is a testament to Globe’s dedication to innovation and our commitment to our customers. We believe in the transformative power of 5G to enhance the digital lives of Filipinos,” he said.
5G offers faster data transfer rates, expansive reach, and steadier connectivity.
Globe claims to be at the forefront of “testing and pilot of several 5G technologies.”
“Our continuous infrastructure investment is focused on uplifting customer experience, delivering a highly consistent and available network. These investments cover capacity and coverage expansion to improve service performance, network fortification to further improve service availability, and continuous optimization to improve service quality,” said Agustin.
In the first half of 2023, Globe spent P37.7 billion in capital expenditures, representing a 25-percent reduction from the outlays the year prior.
Globe said recently that the revenues of its mobile business grew by 1 percent year-on-year in the first half despite the mandatory registration of SIM cards.
Darius Delgado, the head of Globe’s Consumer Mobile Business, said revenues of the mobile business reached P54.8 billion in the first six months of 2023, inching up from the P54 billion it reported the year prior.
He said the SIM registration mandate “filtered out inactive subscribers from its total base.”
Globe reported a 27-percent drop in net income to P14.38 billion in the first half from last year’s P19.68 billion mainly due to the one-time gain that the company recorded in 2022.
Core net income was also down by 10 percent to P9.95 billion from P11.02 billion, as the 3-percent increase in revenues to P89.52 billion cannot fully offset the 5-percent rise in cost and expenses to P49.03 billion and the three-percent rise in depreciation costs to P22.89 billion.
Globe has also revised its outlook for 2023, with service revenue guidance for the year changed to “mid-to-low single-digit growth” from “mid-single-digit growth,” citing “extended macroeconomic pressures.”
