Globe 3Q profit rises 2.8%

10 Nov 2005

Globe Telecom has reported a year-on-year 2.8% rise in net profit for the third quarter of 2005 to PHP2.23 billion (USD40.8 million); revenues grew 8.4% to PHP14.8 billion during the same period. Globe’s mobile customer base stood at 12.4 million at the end of September, down 29% from a year earlier and from 13.6 million at the end of June. Globe attributed the fall in subscribers to the termination of SIM swapping. Although it signed up two million new users during the quarter, 3.2 million customers left the company.

Philippines, Globe Telecom (incl. Innove)