Converge Information and Communications Technology Solutions Inc. said Friday net income in the first nine months of the year rose 4.3 percent to P6.4 billion on the back of the steady increase of subscribers to its high-speed fiber broadband network.
At the end of September, Converge recorded a total 2.05 million subscribers, with 1.97 million of them postpaid. It had a net addition of 170,925 subscriber, with 79,623 joining its network in the third quarter.
Total revenue in the January-September period increased by 7.2 percent to P26.2 billion, with residential customers contributing P22.5 billion, up 5.2 percent. Enterprise revenues increased by 21 percentto P3.8 billion due to double-digit growth across all segments with the small and medium enterprise segment increasing 38 percent year-on-year.
“We’re implementing a data-driven and technology-enabled approach to take care of our customers, and Salesforce helps us to do this. We are able to respond quicker, smarter, and more intuitively to customer concerns particularly in social media.” said Converge chief strategy officer Benjamin Rex Azada on the company’s use of customer profile analytics.
“With this new and intelligent operating model driven by AI, the processing time of network faults and the cost of operations, as well as human errors, can be effectively controlled. In the future, we are looking forward to using AI to provide proactive advisory services to our customers. This will definitely give our customers a better experience which has always been our top goal,” said Converge chief network transformation officer Paulo Martin Santos about the company’s NIAP.
Depreciation and amortization continue to decline, sliding to P4.5 billion this year from P4.7 billion in the same period last year.
Total cash capital expenditures in the nine-month period reached P5.2 billion, including funds spent for the deployment of 895,712 ports between January and September.
