Report
Iain Johnston
EUR 1188.00 For Business Accounts Only

Philippines: Q2 2018: Third entrant anticipation amidst top-line growth

The Philippine telecom market continued to see robust growth in Q2, with YoY trends unchanged: modest industry revenue growth in wireless, with Globe outperforming, and PLDT seeing a further uptick in fixed line growth. Wireless service industry revenue growth of 1.4% YoY remains below GDP growth.
Underlyings
Globe Telecom Inc.

Globe Telecom is a provider of telecommunications services. Co. operates mobile, fixed line and broadband networks, providing communications services to individual customers, small and medium-sized businesses, and corporate and enterprise clients. Co.'s business segments consist of: mobile communications services, which consists of digital cellular telecommunications services; and wireline communications services, which consists of fixed line telecommunications services. As of Dec 31 2014, Co. had about 44.0 million mobile subscribers, over 2.8 million broadband customers, and over 762,000 landline subscribers.

PLDT Inc.

PLDT is telecommunications service provider in the Philippines. Co., through its three principal business segments, wireless, fixed line and others, offers a range of telecommunications services across the Philippines' extensive fiber optic network as well as wireless, fixed line and satellite networks. Through its wireless business, Co. provides cellular and wireless broadband, satellite and other services. Co.'s fixed line business group offers local exchange, international long distance, national long distance, data and other network and miscellaneous services. Co.'s other business segment includes investments in multi-media content and other companies.

Provider
New Street Research
New Street Research

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Analysts
Iain Johnston

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