Globe posted bullish Q4 2022, 158B full-year revenue

by

Globe announced all-time high revenue of P158B, up 4% YoY

The Globe Group announced that it ended 2022 with a solid all-time high revenue due to strong demand for corporate data and mobile services and continuous growth from its non-telco services as more Filipinos adopt the digital lifestyle.

Strong demand from mobile business sustained its upward performance ending the year with P107.5 billion, the second highest in company history. Total mobile revenues comprised 68% of the total service revenues, with the total mobile customer base ending at 86.7 million in 2022.

Corporate Data on the other hand, posted an all-time high revenue of P17.2 billion or 21% increase from a year ago due to the strong traction from information and communication technology (ICT) services which grew 89% YoY as more companies rely on business application, cloud, and data center services.

Globe’s non-telco revenues in spaces such as fintech, healthtech, adtech, and entertainment, jumped to P4.2 billion in 2022 from P2.0 billion last year. The substantial revenue contributions from ECPay, Yondu, and Asticom led to its outstanding performance in 2022.

“Despite 2022 being a challenging year marked by inflationary pressures, high-interest rates, and weakened consumer confidence, Globe once again showed resilience. We are happy that the Globe Group closed the year with strong topline and EBITDA growth. We also achieved momentous milestones in 2022 where we closed the country’s largest-ever tower sale and leaseback agreement. In addition we successfully concluded our first stock rights of er in over two decades and raised P17 billion despite challenging market conditions,” said Globe Telecom Inc. President and CEO Ernest L. Cu.