Globe bucks economic headwinds

Globe Telecom Inc. is banking on resilient demand for mobile, broadband, and corporate data services to sustain revenue growth through year-end, keeping its full-year target intact despite intense competition and difficult economic conditions.

With P129 billion in service revenues generated in the first nine months of the year, the telecommunications giant remains confident of delivering low to mid-single-digit growth for the full year, supported by continued expansion across its core businesses.

Globe President and Chief Executive Officer Carl Cruz said the company’s performance has strengthened its position heading into the final quarter, even as the challenging economic environment continues to test the industry’s growth prospects.

“Our nine-month performance puts us in a very good position heading into the final quarter of the year,” Cruz said during the company’s earnings briefing on Wednesday.

“Service revenues reached 129 billion pesos, delivering a—I think best-in-the-industry, fingers crossed, year-on-year service revenue growth, supported, of course, by continued growth across all of our segments: mobile, home broadband, and of course, corporate data.”

Globe is counting on sustained demand across its major business segments to offset market pressures, while tightening cost controls and improving operational efficiency to protect margins.

The company has recorded consecutive quarters of record revenues, reinforcing management’s confidence in its ability to sustain growth despite a difficult operating environment.

“So, I think we are sticking to our guidance in terms of revenue, low to mid-single-digit growth, which, based on the last two quarters, hopefully going into three, remains industry-leading at this point in time,” Cruz said.

Still, Cruz acknowledged that Globe continues to navigate tough market conditions and changing customer demand amid broader macroeconomic challenges.