Converge ICT Solutions Inc. reported robust financial and operational performance in the first quarter of 2025, driven by solid growth in both its residential and enterprise segments. The company recorded a 13.2% year-on-year (YoY) increase in consolidated revenues, reaching PHP10.8 billion, while net income surged by 18.3% to PHP3 billion.
This performance reflects Converge’s continued expansion in customer base and strategic innovation in broadband offerings. By the end of March 2025, the company had added over 140,000 new residential subscribers, boosting its total to 2.7 million. Residential revenues climbed 11.5% YoY to PHP9.1 billion.
Converge’s enterprise business also delivered impressive gains, with revenues jumping 22.9% YoY to PHP1.7 billion. All enterprise segments posted double-digit growth, with the Wholesale segment leading at a 54% increase, as Converge onboarded new clients and upgraded its enterprise solutions.
“During the first three months of the year, we started strong with double-digit top-line growth in both operating segments and even healthier consolidated profitability margins as we see consistent industry growth amid prevailing market competition,” according to Converge President and Co-Founder Maria Grace Uy.
CEO and Co-Founder Dennis Anthony Uy emphasized Converge’s ongoing momentum, stating, “The momentum is still quite strong in the first quarter of 2025. We hit the ground running this year and we are confident in sustaining the gains last year. We continue to improve on our fundamental products while also pushing aggressively on introducing new digital solutions for Filipinos.”
Among these new offerings is Super FiberX, launched in March. The bundled service enhances the flagship FiberX plan with automatic 100 Mbps speed boosts, a Google-certified Android TV device (Xperience Box), BlastTV content access, and a Wi-Fi 6 modem, catering to the growing demand for bundled internet and entertainment services.
Converge has also expanded its reach through a partnership with Starlink, becoming an authorized reseller of its satellite broadband services. This collaboration aims to provide connectivity to underserved and remote areas, targeting businesses, government agencies — particularly in agriculture and retail — and even maritime vessels.
In addition, Converge achieved an improved Environmental, Social, and Governance (ESG) rating from MSCI, rising to an “AA” (Leader) status, underscoring the company’s commitment to sustainable operations and risk management.
With its strong Q1 performance, ongoing product innovation, and expanding digital footprint, Converge is well-positioned to maintain its growth trajectory throughout 2025.