Globe Telecom issued optimistic guidance for 2022, looking to extend growth booked in 2021 as it continues to spend heavily to rollout 5G services and a nationwide fibre network.
President and CEO Ernest Cu explained in its earnings statement an adaptation of its strategy to cope with the Covid-19 (coronavirus) pandemic and natural disasters meant Globe Telecom’s performance in 2021 remained on the right track.
He cited financial stability and “healthy growth” which enabled Globe Telecom to “reinvest back into our network” to match increasing demand for data services.
The operator stated it is “guardedly optimistic” on maintaining momentum, forecasting low single-digit growth in revenue and setting a capex budget slightly down on the PHP92.8 billion ($1.8 billion) outlay in 2021.
At a glance