Converge registers double digit growth numbers in Q1 Consolidated Revenues up 10.4%, Net Income up 17.5%
Leading fiber broadband and technology provider Converge ICT Solutions Inc. (PSE: CNVRG) started the year strong, as consolidated revenues hit P9.5 billion in the first quarter of the year, an increase of 10.4% compared to the same period last year while net income reached P2.6 billion, jumping 17.5% year-on-year, amid 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 continue to see rising demand for our fiber produ