GLOBE Telecom Inc. said Wednesday its net income in the first half (H1) of 2024 grew by a modest 1 percent to P14.54 billion from last year’s P14.54 billion, driven by earnings growth that counterbalanced a rise in depreciation expenses.
Excluding a one-time gain from its tower sales, “normalized net income would have stood at P11.9 billion, reflecting a 19 percent increase from the year earlier,” the telco said in a disclosure.
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