Connect with us

Hi, what are you looking for?


Globe seen on track to meet 2022 revenue target

GLOBE Telecom, Inc. is on track to achieve its full-year target of mid-single digit revenue growth, financial research firm CreditSights, Inc. said, citing sustained subscriber demand.

The company is also on track to meet its earnings before interest, taxes, depreciation, and amortization (EBITDA) margin target of 50%, Fitch Group’s CreditSights said in an analysis e-mailed to reporters on Wednesday.

The research firm expects Globe’s fourth-quarter earnings growth to be supported by “sustained subscriber demand (aided by the upcoming holidays) and further moderation of fuel prices” from highs hit in the first half.

Globe saw its nine-month attributable profit grow 37% to P24.9 billion from P18.2 billion previously. Total revenues for the period went up 3% to P130.2 billion from P126.4 billion in 2021. The growth was led by corporate data and mobile services, supplemented by the sustained growth from non-telco services.

CreditSights described Globe’s financial results for the January-to-September period as “stable.”

“Revenues and EBITDA rose 3% and 5% year on year respectively on the back of healthy mobile data and enterprise data demand,” it noted.

The research firm also maintained its “outperform recommendation” on Globe.

According to finance website Investopedia, “outperform” means that the company “will produce a better rate of return than similar companies, but the stock may not be the best performer in the index.”

“We think valuations are attractive and have not fully priced in the company’s recent credit positives (P17-billion equity rights issue and soon-to-conclude P91-billion tower sale and leaseback),” CreditSights said.

“While liquidity was tight (unrestricted cash of P14 billion versus P55 billion of short-term debt as of Sept. 30), we draw comfort in Globe’s strong banking relationships that should allow for easier debt rollover and refinancing,” the research firm added. — Arjay L. Balinbin

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Linesmen fix electric posts in Tondo, Manila. — PHILIPPINE STAR/ RUSSELL PALMA PRESIDENT Ferdinand R. Marcos, Jr. is hoping the Court of Appeals (CA)...


Finance Secretary Benjamin E. Diokno answers questions from the media during a press briefing at the New Executive Building, Malacañan Palace, July 6. —...


SUBSIDIES extended to government-owned and -controlled corporations (GOCCs) surged to P39.981 billion in October, the Bureau of the Treasury (BTr) said. Budgetary support to...


Manila rose six spots to 55th place out of 75 ranked centers in the sixth edition of the Smart Centers Index (SCI) by Long...


By Arjay L. Balinbin, Senior Reporter METRO Pacific Tollways Corp. (MPTC) said its unit NLEX Corp. expects to award the Candaba Third Viaduct project,...


1 of 3 ARMANI’s diffusion line, Armani Exchange, is trading in its old store look for a new one. During a short introduction to...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.