MANILA - Globe Telecom Inc. said Tuesday it increased its capital expenditures in the first quarter by 45 percent to P7.1 billion to expand its data network.

More than 70 percent of the amount was used to upgrade Globe's mobile internet service, said the company's acting chief finance officer, Rizza Maniego-Eala.

The company started upgrading its 3G, LTE and Wi-Fi facilities this year and plans to invest up to $2 billion in the next five years to deploy fiber optics in 20,000 villages.

Globe Telecom shares were down 0.55 percent to 2,162 pesos on Tuesday.

The company's net income in the January to March period grew 3 percent to P4.3 billion on the back of its data revenues.