Typhoon damage may lessen Globe’s Q4 revenue growth

Rappler.com

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Globe Telecom says damage from Yolanda (Haiyan) may dampen its revenue growth for the fourth quarter

REVENUE GROWTH. Globe Telecom says its revenue growth may not be as high as expected due to the typhoon.

MANILA, Philippines – Globe Telecom Inc. announced Wednesday, December 18, that damage from Typhoon Yolanda (Haiyan) may dampen the company’s fourth quarter revenue growth.

Globe President Ernest Cu noted softer demand for telecommunications services in Yolanda-hit areas and subscriber contributions to relief efforts as possible causes for reduced revenue growth.

Cu explained that, taking into account seasonal increases in SMS and voice traffic during the holidays, “fourth quarter revenues may not be as strong as in prior years due to softer demand for telco services in the affected areas and possible cutbacks in telco-related spending on the part of subscribers as they donate these instead to the relief and rebuilding efforts of the government and private sector.”

Cu also said typhoon damage on Globe’s network is not expected to have a lasting negative impact on company revenues. (READ: Visayas Globe, Smart networks at least 90% restored)

Including donations from stakeholders, partners, and employees, Globe has pledged over P45 million for relief and rebuilding operations. – Rappler.com

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