Globe Telecom: Bullish On Strong Earnings Growth And Higher Fintech Contribution
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Globe Telecom, Inc. reported strong earnings growth, with its Q3 and 9M 2024 earnings surpassing expectations. The company's fintech business significantly increased its contribution to earnings before tax, rising from 6% in 9M 2023 to 14% in 9M 2024. Globe Telecom's normalized net income grew by 22% year-over-year in Q3 2024.
November 13, 2024 | 10:30 pm
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POSITIVE IMPACT
Globe Telecom's Q3 and 9M 2024 earnings exceeded expectations, with significant growth in its fintech business contribution. The company's normalized net income grew by 22% YoY in Q3 2024.
The strong earnings performance and increased contribution from the fintech business are positive indicators for Globe Telecom. The 22% YoY growth in normalized net income and the rise in fintech's share of earnings before tax suggest robust business momentum, likely leading to a positive short-term impact on GTMEF's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100