CONVERGE ICT Solutions, Inc. is optimistic about maintaining the growth of its customer count after reaching more than two million residential subscribers.
Dennis Anthony H. Uy, the CEO of Converge, stated in a stock exchange report on Monday that the company is poised to sustain its growth by expanding its reach into various market segments.
Converge reported that as of the end of September, they have over two million residential subscribers. The company also mentioned that they are seeing growth in various market segments, including prepaid and postpaid customers.
Mr. Uy stated that our efforts to increase growth opportunities have led to the development of more cost-effective connectivity solutions.
Between January and June, Converge recorded a total of 1.97 million residential subscribers, which included 1.92 million postpaid customers and over 54,000 prepaid customers.
Converge’s chief operations officer, Jesus C. Romero, stated that they are pleased with the ongoing expansion of their residential customer base in the first six months of 2023.
The company’s net income in the second quarter was P2.11 billion, showing a 6.6% rise from last year’s P1.98 billion. This growth was due to an increase in subscribers and a decrease in service costs.
The gross income in the second quarter increased to P8.72 billion, a 4.9% rise from P8.31 billion in the previous year’s second quarter.
On Monday, stocks in the company decreased by 12 centavos or 1.25% to P9.48 per share at the nearby stock exchange.