Globe reports flat Q1

4 May 2005

Filipino cellco Globe Telecom has reported flat quarterly earnings for the quarter ended 31 March 2005, which it has put down to slower revenue and subscriber growth. Net profit for the quarter stood at PHP3 billion, compared with 2.99 billion at the same time the previous year, while service revenues grew just 5% to PHP13.5 billion. Operating costs increased by 24% to PHP6.6 billion. Mobile subscribers stood at 12.9 million, up marginally from 12.5 million at the end of 2004.

Philippines, Globe Telecom (incl. Innove)