Globe has emerged as the most valuable telecommunications company in the country as of October this year. Its market capitalization in the Philippine Stock Exchange (PSE) soared to a record P456 billion amid its pivot to become a digital solutions platform.
Globe’s stock price zoomed to an all-time high of P3,410 last October 6. This reflects a 69 percent year-to-date jump from P2,018 last January 4.
The robust increase in share price reflects investor confidence in Globe’s growth prospects in the coming years. The company is not only committed to improving its network and offering better products and services but is also expanding into the technology-based solutions space.
TECHNOLOGY
TECHNOLOGY
TECHNOLOGY
“Telco will continue to be our main and most important business but we now view ourselves as a digital platform that builds one business upon others. We will continue to enhance our telco business and keep an eye on maintaining our number one spot in mobile, as we compete heavily in the fixed-line business and expand our services to other fields of technology and digital solutions,” said Ernest Cu, Globe President and CEO.
Globe is going beyond telco and is now actively growing its healthtech, adtech, edutech, fintech, and e-commerce businesses. Analysts believe these new businesses, particularly GCash, will continue to provide great value to Globe in the future. They also expect the share price momentum of Globe to continue.
