Globe revenue soars to new high

Network provider Globe Telecom Inc. attained a new record high in revenue last year, backed by the strength of its core services.

- By ELIJAH FELICE ROSALES

Revenue rose by two percent to a record P165.02 billion in 2024, capped by a four-percent jump in earnings from the mobile segment at P116.71 billion.

The company, however, sustained a one-percent dip in net income to P24.29 billion in 2024 from P24.58 billion in 2023, even as it managed to grow revenue and slash spending.

Globe reported that its depreciation expenses rose by seven percent to P50.47 billion, neutralizing gains made by the telco in growing the business and rebalancing finances.

On the other hand, costs declined by three percent to P78.2 billion, in line with the direction to cut spending.