Globe revenues from fintech, health tech, ecommerce more than double in 6 months

Ayala-led Globe Telecom registered P1.9 billion in revenues from its non-telco services in the first half of the year, up 118 percent from the same period a year ago.

This complements Globe’s strong revenue performance from telco core products and services.

“ This remarkable progress brings Globe closer to its vision of going beyond telco. Whether through fintech, adtech, health tech, e-commerce, or entertainment, we strive to bring value to the overall digital ecosystem,” said Ernest Cu, Globe president and CEO.

Non-telco revenues contribute 2.4 percent to gross service revenue.

The increase was driven by growth across all of Globe’s subsidiaries. IT and solutions ECPay and staffing solutions and shared services enterprise Asticom Group of Companies contributed the Mostar, followed by digital and mobile marketing solutions agency AdSpark and IT solutions company YonduÌiGlobe’s other joint ventures and affiliates are also adding to its bottom line, with net share in equity gains growing by 17 percent to almost P1 billion or 3.8 percent of net income before tax.

Globe’s share in GCash also improved as the platform remains to be the number one finance app in the country, having 66 million users and P3 trillion in gross transaction ⁰0⁰ppp0pp000⁰p⁰⁰8⁹⁹9⁹9999 for the first half of the year.