Converge achieves double-digit growth rates in Q1
Consolidated revenues are up 10.4%, while net income is up 17.5%. Converge ICT Solutions Inc. (PSE: CNVRG), a leading fiber broadband and technology provider, began the year strong, with consolidated revenues of P9.5 billion in the first quarter of the year, up 10.4% from the same period last year, and net income of P2.6 billion, up 17.5% year on year, owing to sustained robust demand for its flagship and flanker fiber broadband products and enterprise solutions. ”This strong showing in the first quarter of 2024 puts us solidly on track to reach our revenue guidance for the year. We’re confident we can sustain this steady growth for the rest of the year, especially as we lean into our mass market offerings,” said Converge President and Co-Founder Maria Grace Y. Uy. Converge registered its highest quarterly net additions in subscribers in ten quarters, with 124,793 added to its subscriber base to reach nearly 2.3 million residential customers at the end of March 2024. “We co...