Converge reports Q1 net income up 18.43% to P3.02B

Fiber broadband operator Converge ICT reported a 18.43 percent increase in net income to P3.02 billion for the first quarter of 2025, compared to P2.6 billion in the same period last year.

The company's consolidated revenues rose by 13.21 percent to P10.8 billion, with residential business revenues growing 11.51 percent to P9.11 billion and adding 2,701,336 subscribers by March 2025.

Converge’s enterprise arm saw a 23.36 percent year-over-year increase in revenues to P1.69 billion, driven by continued expansion of its customer base.

The firm invested heavily with capital expenditures of P2.6 billion in the first quarter, deploying over 35,000 fiber ports and installing more than 60 km of fiber backbone.

Converge's debt decreased to P28.3 billion from P29.5 billion at the end of last year, reflecting improved financial health.

In March, Converge announced its partnership with Starlink to extend broadband access to remote areas, strengthening enterprise connectivity nationwide.