Converge revenues grow 5% YoY, net income up 22% in 2023 as fiber internet net adds surge 32% to 284K, highest in industryLeading fiber broadband and technology provider Converge ICT Solutions Inc. concluded 2023 on a steady growth trajectory as its consolidated revenues hit P35.4 billion, up by five percent year-on-year, while net income rose by 22 percent to reach P9 billion on the back of strong demand for its fiber internet services.
The flagship FiberX brand sustained its strong growth with total subscribers now reaching 1.8 million. As a token of appreciation to Converge customers, a promotional speed boost to 300Mbps for the base plan of P1,500 was given to FiberX subscribers recently.With this strong performance, Converge acquired nearly 80,000 net additional subscribers in Q4 2023, representing 31.8 percent of its total full-year net adds.
Converge bagged several recognitions from the Ookla Speedtest Awards, where it was crowned the Philippines’ Fastest Internet Service Provider of the second half of 2023. Additionally, the company staked its dominance in three other categories — Top-Rated Internet in the Philippines, Best Internet Gaming Experience, and Best Internet Video Experience.
All its enterprise segments saw double-digit growth, led by the small and medium enterprise segment with 34.9 percent. Similarly, enterprises and corporate saw a 13 percent growth, while the Wholesale segment increased by 14 percent.
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Source: MlaStandard - 🏆 20. / 55 Read more »