It’s all good news for Converge when it comes to their growth in 2024: aside from being recognized for the fastest internet in the Philippines, Converge also reported a double-digit growth for the first quarter of 2024.
As they have presented during their Q1 2024 Media Briefing, Converge hit a total consolidated revenue of Php 9.5 billion, which is a 10.4% year-on-year growth. Their net income reached Php 2.6 billion, which is a solid 17.5% year-on-year growth.
Converge credits this growth for the first quarter of 2024 with its enterprise solutions and its variety of fiber broadband products for consumers. “We’re confident we can sustain this steady growth for the rest of the year, especially as we lean into our mass market offerings,” Converge President and Co-Founder Grace Uy said.
Converge’s subscriber growth–which added 124,793 subscribers to reach over 2.3 million residential customers as of March 2024, can be credited with their more accessible fiber products like Surf2Sawa and BIDA Fiber.
READ MORE:
- Converge Accelerates Roll Out of Surf2Sawa Prepaid Fiber Service
- Converge Expands BIDA Fiber Coverage in NCR Region
“We continue to see rising demand for our fiber products, both prepaid and postpaid. At the same time, we are not sitting still–we are diversifying our potential offerings to go beyond connectivity through cooperation with global tech companies,” Converge CEO Dennis Anthony Uy said, adding that they recently signed a Memorandum of Understanding with South Korea’s NAVER for expanding Converge’s cloud technologies.
