Philippines communications provider Globe Telecom saw its first-half net profit increase four-fold to 6.8 billion pesos from 1.41 billion pesos in H1 2013, reported Telecompaper.com on Aug 6, 2014. Core net income, which excludes non-recurring charges and foreign exchange and mark-to-market gains and losses, was up 18 percent year-on-year to 7.6 billion pesos from 6.4 billion pesos. Service revenues went up 7 percent to 47.7 billion pesos from 44.5 billion pesos.

Mobile revenues amounted to 37.8 billion pesos, up 5 percent year-on-year, from 35.8 billion pesos during the same period last year on the back of strong contributions from the Globe Postpaid and TM segments. Globe ended the quarter with 42.7 million mobile subscribers, up 18 percent year-on-year from 36.1 million in June 2013, and up by 5 percent from the end of the first quarter of 2014.

Broadband revenues grew 14 percent to 5.9 billion pesos. The number of broadband subscribers reached 2.2 million, up 24 percent year-on-year. The solid growth in revenues and subscribers was driven by subscriber expansion in the wireless broadband (+30 percent), fixed broadband (+12 percent) and LTE services, the company said.