Globe posts solid Q4 2022, 158B full-year revenue

Globe has just unveiled its 2022 Q4 results, closing the year with all-time high consolidated service revenue that reached Php 158USD 3INR 228EUR 3CNY 20 billion, up 4% year-on-year.

According to the Globe Group, its corporate data and mobile services were complemented by its non-telco offerings in garnering the success it had last quarter.

“Despite 2022 being a challenging year marked by inflationary pressures, high-interest rates, and weakened consumer confidence, Globe once again showed resilience. We are happy that the Globe Group closed the year with strong topline and EBITDA growth,” said Globe Telecom Inc. President and CEO Ernest L. Cu.

Of note, Globe’s mobile business sustained a significant improvement of Php107.5USD 2INR 155EUR 2CNY 13 billion compared to Php 104.4USD 2INR 151EUR 2CNY 13 billion last year, mostly coming from prepaid subscribers.

It said that the easing of mobility restrictions and the resumption of face-to-face work and classes both played a big part in the said increase.

Globe also enjoyed success with its expanded fiber footprint, with its postpaid fiber subscribers and revenues garnering a year-on-year increase of 35% and 84% respectively. However, Globe did note that this increase was not enough to cover the decline in the legacy businesses, as the Home Broadband business further declined in the fourth quarter, ending the year at only ₱27.1 billion from ₱29.4 billion a year earlier.

In response to this, Globe has shifted its focus to prepaid fiber, which it believes will open the industry to a new segment that could potentially drive the next phase of growth for the Home Broadband industry.