Converge ICT Solutions Inc. said first-quarter revenue rose to P11.2 billion as its subscriber base surpassed three million, driven by strong growth in its prepaid fiber internet service.
The Philippine fiber broadband provider said its total subscribers reached 3.09 million as of end-March 2026, up 14% from a year earlier. Its Surf2Sawa prepaid fiber service grew 86.7% year-on-year to 674,000 customers.
Converge reported net income of P3.02 billion for the quarter, while earnings before interest, taxes, depreciation and amortization rose 3.3% to P6.9 billion. EBITDA margin stood at 61.8%, while return on invested capital reached 15.6%.
The company’s enterprise business also expanded, with revenue rising 16% to P2 billion during the quarter.
Converge co-founder and CEO Dennis Anthony Uy said the company was focused on expanding its fiber footprint, particularly in the Visayas and Mindanao, while also preparing to offer more cloud and data-heavy services to enterprise customers.
The company said it recently completed a national digital infrastructure platform comprising its fiber backbone and satellite network, international subsea cable systems, cable landing stations and scalable data centers.
Cash capital expenditure reached P2.9 billion in the first quarter. Converge maintained its full-year capex guidance of P18 billion to P23 billion, with spending focused on network expansion, reinforcement and preparation for future demand.
President and co-founder Maria Grace Uy said the company’s financial performance remained steady despite geopolitical turmoil affecting the local economy, adding that Converge was working to improve the resolution of network issues.
Cebu Business News
