Converge posts P6.11 billion net income in first 9 months; offers free plan upgrades

ABS-CBN News

MANILA - Converge Information and Communications Technology Solutions Inc said on Thursday its net income grew 17.5 percent to P6.11 billion in the first 9 months of 2022. Consolidated revenues grew 30 percent to P24.5 billion compared to the same period last year, the company owned by Pampanga-based businessman Dennis Anthony Uy told the stock exchange. Converge said the expanded profitability in the first 9 months of the year was driven by increased scale and prudent cost management.In the third quarter, Converge said it deployed 411,320 new fiber-to-the-home (FTTH) ports which brought its nationwide network to over 14.3 million homes as of the end of September.So far, it has achieved 53 percent nationwide household coverage, on track to meet its goal of covering 55 percent of households by 2023, it said. Meanwhile, residential subscribers reached 1,845,162, up by 16 percent as of the end of September, it said. FREE SUPERSIZE PLAN UPGRADE Converge also announced Thursday that it would permanently increase the speeds for its fiber residential plans for free.The FiberXPlan 1500 will now have a speed of up to 200 Mbps, double the current capacity, the internet provider said. Meanwhile, a new FiberX Plan 2000 will offer 400 Mbps, FiberX Plan 2500 will double to 600 Mbps from 300 Mbps, Fiber X Plan 3500 will keep its 800 Mbps speed while the 1 Gbps plan will become FiberX Plan 7499."The company remains steadfast in its commitment to ensuring that subscribers are provided with the best service with or without a calamity," Converge said."New products and promotions can be easily created with reduced back-end manual intervention. This would allow the Company to be constantly flexible amid the evolving needs of the customers. Also, the customer’s full journey from application, to installation, billing, and after-sales can be better managed digitally," it added.<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/05/18/22/converge-gets-tax-perks-for-broadband-in-remote-areas'>Converge secures tax incentives for fiber rollout in remote areas</a></li>	<li><a href='https://news.abs-cbn.com/business/06/01/22/converge-says-p1500-base-plan-now-up-to-100-mbps'>Converge says speed for P1,500 base plan doubled, now up to 100 Mbps</a></li>	<li><a href='https://news.abs-cbn.com/business/08/11/22/converge-says-net-income-after-tax-hit-p395-billion-in-q2'>Converge says net income after tax hit P3.95 billion in second quarter</a></li></ul>RELATED VIDEO:<figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=1643305' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

So far, it has achieved 53 percent nationwide household coverage, on track to meet its goal of covering 55 percent of households by 2023, it said. Meanwhile, residential subscribers reached 1,845,162, up by 16 percent as of the end of September, it said. FREE SUPERSIZE PLAN UPGRADE Converge also announced Thursday that it would permanently increase the speeds for its fiber residential plans for free.The FiberXPlan 1500 will now have a speed of up to 200 Mbps, double the current capacity, the internet provider said. Meanwhile, a new FiberX Plan 2000 will offer 400 Mbps, FiberX Plan 2500 will double to 600 Mbps from 300 Mbps, Fiber X Plan 3500 will keep its 800 Mbps speed while the 1 Gbps plan will become FiberX Plan 7499."The company remains steadfast in its commitment to ensuring that subscribers are provided with the best service with or without a calamity," Converge said."New products and promotions can be easily created with reduced back-end manual intervention. This would allow the Company to be constantly flexible amid the evolving needs of the customers. Also, the customer’s full journey from application, to installation, billing, and after-sales can be better managed digitally," it added.<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/05/18/22/converge-gets-tax-perks-for-broadband-in-remote-areas'>Converge secures tax incentives for fiber rollout in remote areas</a></li>	<li><a href='https://news.abs-cbn.com/business/06/01/22/converge-says-p1500-base-plan-now-up-to-100-mbps'>Converge says speed for P1,500 base plan doubled, now up to 100 Mbps</a></li>	<li><a href='https://news.abs-cbn.com/business/08/11/22/converge-says-net-income-after-tax-hit-p395-billion-in-q2'>Converge says net income after tax hit P3.95 billion in second quarter</a></li></ul>RELATED VIDEO:<figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=1643305' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

Converge said the expanded profitability in the first 9 months of the year was driven by increased scale and prudent cost management.In the third quarter, Converge said it deployed 411,320 new fiber-to-the-home (FTTH) ports which brought its nationwide network to over 14.3 million homes as of the end of September.

MANILA - Converge Information and Communications Technology Solutions Inc said on Thursday its net income grew 17.5 percent to P6.11 billion in the first 9 months of 2022. Consolidated revenues grew 30 percent to P24.5 billion compared to the same period last year, the company owned by Pampanga-based businessman Dennis Anthony Uy told the stock exchange.

Converge Information and Communications Technology Solutions Inc said on Thursday its net income grew 17.5 percent to P6.11 billion in the first 9 months of 2022. 

Converge posts P6.11 billion net income in first 9 months; offers free plan upgrades | ABS-CBN News

Business

Business

Converge posts P6.11 billion net income in first 9 months; offers free plan upgrades

Converge posts P6.11 billion net income in first 9 months; offers free plan upgrades