AYALA-LED Globe Telecom said on Wednesday that its net income dropped 13 percent in the first three months of the year on higher depreciation and interest expenses, as well as one-time costs related to its purchase of San Miguel Corp.’s telecom assets. The telecom firm ended the quarter with record-level consolidated service revenues of P31.1 billion, 4 percent higher than the previous year. Mobile data remained the biggest contributor to total mobile revenues, which hit 42 percent in the first quarter. The total cash dividend payment for the second quarter is about P3.0 billion. Globe provides digital wireless communication services nationwide through the brands Globe Postpaid, Globe Prepaid, Touch Mobile and Tattoo, and offers domestic and international long distance carrier services.

Source: Manila Times May 10, 2017 17:37 UTC