National

Globe 9-mo profit jumps 20%

Globe 9-mo profit jumps 20%

Globe Telecom saw profit jump in the first nine months of the year as it cashed in on the vast demand for internet services.

Globe announced on Thursday that core income from January to September rose 20 percent to P17.9 billion as service revenue increased 13 percent to P110.6 billion.

Globe chief commercial officer Alberto de Larrazabal said the nine-month results placed the telco giant on track to deliver record earnings for 2019.

“It’s the pent-up demand for data that’s driving this,” De Larrazabal said on

hursday.

Increasing smartphone usage and adoption of 4G services helped Globe double its mobile data traffic to 1,200 petabytes from 641 petabytes during the nine-month period. —MIGUEL R. CAMUS