Globe Telecom Income Up

[MikeLigalig.com]

By Mary Ann Ll. Reyes
The Philippine Star -

Globe Telecom registered a 17-percent increase in its net income for the first quarter this year to P4 billion as against P3.4 billion in the same period a year earlier.

The company said the net  income includes an after-tax gain of P398 million arising from an equipment exchange transaction with an equipment supplier. Excluding foreign exchange and mark-to-market gains and losses as well as the gain from the equipment exchange transaction, core net income grew five percent to P3.7 billion from P3.5 billion a year ago.

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