Globe over the weekend is expanding its fiber footprint this year to serve better the rising demand for faster broadband services nationwide.
“We are excited over this impressive growth in fiber adoption among our customers,” Raymond Policarpio, Globe’s vice president for brand marketing, broadband business said.
In the past year, fiber subscribers have grown 35 percent, leading to an 84 percent surge in revenue compared to 2021.
Globe recognizes the growing reliance on data by its customers, which requires more stable and faster connections that only fixed wired solutions can provide.
In response, the company ramped up its fiber deployment efforts and has thus far rolled out 3.7 million fiber-to-the-home lines, of which 1.4 million were delivered in 2022 alone.
“We understand the importance of providing our customers with stable and fast connection, especially as the world becomes more dependent on technology and the internet. Our fiber network offers a fixed wired solution that can provide just that, and we are happy to see so many customers recognizing the benefits and making the switch to fiber,” Policarpio said.
In addition to fiber adoption, Globe has also seen continued growth in its fixed wired subscribers, which increased by 17 percent year-on-year to reach 1.1 million. The company attributes this growth to the ongoing migration of Home Prepaid WiFi subscribers to fiber.
As Globe looks to the future, the company will continue to focus on migrating its fixed wireless and legacy technology customers to fiber, ensuring that all of its customers have access to fast and dependable connections to meet their growing data needs.
“We are committed to providing our customers with the best possible experience. As we move into 2023, we will continue to expand our fiber footprint and bring more customers the benefits of a fixed wired solution,” Policarpio said.
Globe earlier reported net income of P34.6 billion in 2022, up 46 percent from P23.7 billion in 2021. The business rounded the year with all-time high consolidated service revenues of P158 billion, up 4 percent year-on-year.
Globe budgeted $1.3 billion in 2023 capital expenditures, a reduction of over 30 percent from the 2022 peak level. It aims to eventually bring down the annual capex to $1 billion by 2024.
