The old Globe corporate logo. (Photo credit: Wikipedia)Globe Telecom’s postpaid business sustained its growth momentum as it posted a 17 percent increase in service revenues to P748 million in the first quarter of the year, the company said in a statement.
Postpaid service revenues now accounts for 32 percent of Globe’s total mobile revenues, up from 29 percent compared to the same period last year, making it a key driver in the increase in service revenues for the period against the seasonally strong fourth quarter and has accelerated the overall growth of Globe’s mobile business.
Domestic voice calls, mobile browsing and international services are also higher year-on-year while direct mobile browsing revenues was at P669 million, up 33 percent year-on-year.
Globe said the robust take-up for postpaid plans was a result of the warm reception to the customizable plans that continue to attract new and old subscribers, alongside the success of the Apple iPhone 4S launch. In fact, for the first quarter, subscriber acquisition costs were higher due to strong demand for iPhone 4S.
“Investments in postpaid subsidies which are fully-funded by rise in revenues, set up the business for sustained top-line growth in 2012. The growth in customer volumes and handset subsidies are also driving the increase in total marketing and subsidy. We now have an improved customer mix with 45 percent of postpaid net additions signing up for the mid-to high-end plans from only 16 percent last year,” Globe president and CEO Ernest Cu said.
Total mobile revenues increased six percent year-on-year from P15.6 billion to about P16.6 billion despite intense competition and continued price pressures. Globe Prepaid and TM delivered combined a two percent revenue growth, driven by new brand campaigns and a boost in service offerings.
Globe Postpaid ended the quarter with 1.5 million subscribers, up 34 percent year-on-year while the combined Globe Prepaid and TM subscriber base has reached 29.5 million, 13 percent higher than 2011. As of March 31, Globe has a total of 31 million mobile subscribers, up 14 percent from the same period last year.
Amid the strong performance of its mobile business, Globe still further pushed efforts for its prepaid and TM services in a bid to keep its loyal subscribers and draw new customers.
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