Categories: BusinessGlobe Telecom

Globe now the largest PH publicly-listed telco, records P363-billion market value for August

Globe is now the largest telecommunications company in the Philippines in terms of market capitalization, and now has a market value of over P363 billion as of end-August trade.

According to its website, Globe’s high market capitalization “shows investors’ confidence in the company’s prospects, including its strategy to invest and diversify into adjacent sectors.”

From its humble beginnings as a telco business, the Globe Group of Companies continues to leverage various digital solutions businesses, banking on its substantial customer base, distribution capabilities, deep market knowledge, and synergies with its strategic partners.

Globe has successfully transformed its telco business into a technology-based solutions provider with a footprint in fintech, healthcare, entertainment, adtech, e-commerce, manpower, IT services, and venture capital.

The company’s divident payments are also consistent due to its healthy operating results and cash flows. Globe returns to its shareholders’ dividends equivalent to 60%-75% of its prior year’s core net income.

Service revenue was at P37.6 billion in the second quarter, while EBITDA was at P19.1 billion. Net income and Core net income for the April to June period came in at P5.7 billion and P5.8 billion, respectively.

“Over the years, Globe has shown remarkable growth as a result of its exemplary performance and sound management decisions. This, in turn, earned the trust of our stakeholders whose support allows us to continuously expand our businesses, offer quality products and services, and reach more customers,” said Ernest Cu, Globe President, and CEO.

Cementing its position as an industry leader, Globe also pushes to establish more digital platforms for Filipino consumers, an example of which is GCash, its e-wallet services that has grown to be the most widely-used digital payments app in the Philippines.

GCash is only one part of a whole digital ecosystem Globe continues to build for Filipinos through its affiliates and subsidiaries encompassing different sectors including healthcare.

These include Kickstart Ventures, Asticom Technology, Yondu, and 917Ventures which operates Mynt, KonsultaMD, HealthNow, AdSpark, among others. Its other notable brands include Globe Studios, Globe Live, GOMO, and TM.

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Myra Santos Santos

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