Globe Telecom mobile subscriber base reaches new record high

Globe Telecom’s total mobile subscriber base reached a fresh record high, exceeding 36 million at the end of the first half, driven by the success of its customizable and value-based product offerings amid rising demand for mobile browsing services.

The company’s total subscriber base of 36.1 million at the end of June this year is a 14% increase from a year earlier and a 3% improvement from the previous quarter.

 “The company’s robust revenue growth in the first half was driven by strong performance of all  our business segments complemented by the strong subscriber growth during the period, stemming from aggressive acquisitions in both the postpaid and prepaid business,” Globe President and CEO Ernest Cu said.

Overall subscriber net additions remained robust with close to 3 million in the first half, a 76% surge from a year earlier, while keeping blended churn to 5.6%, a slight improvement from 5.7% a year earlier.

Globe Postpaid subscribers are now approaching the 2 million mark, as subscribers reached 1.9 million at the end of the first half, an 18% increase from a year earlier and a 2% hike from the previous quarter.

On the other hand, Globe Prepaid subscribers reached a total 16.9 million at the end of the period, a 5% rise from a year earlier while TM subscribers totaled 17.2 million, a 23% jump from a year earlier.

On a year to date basis, gross acquisitions increased by over 2.4 million subscribers, a 20% increase from a year earlier.

The company said subscriber acquisitions in the second quarter alone remained strong at 7.4 million subscribers, over 85,000 SIMs higher than previous quarter’s level, which came mostly from the company’s mass market brand TM.

According to Mr. Cu, the company’s modernized network infrastructure, which is now approaching completion, will lift capacity and boost network performance and thus further enhance Globe branding moving forward.

Globe sustained topline growth momentum in the first half, reporting total revenues of P44.5 billion, a 9% jump from a year earlier, resulting in a core net income of P6.4 billion, a 13% rise from a year earlier.