Globe Telecom, Inc. has seen an improvement in its first quarter net profits by 3%. The increase took place despite the decline in traditional mobile voice and SMS revenues. After taxes, the net income reached P4.3 billion, an improvement from 2015’s P4.2 billion during the same period.
Mobile data service revenues increased by 62% on the back of increasing smartphone penetration, cheap available devices, and consumer promos. The home broadband business saw an increase by 51% in revenues, which is supported by a 41% jump in terms of subscriber base. Globe currently has 29, 008 base stations.
