Net income held at P3 billion in the first quarter, while revenues rose 3.7 percent to P11.2 billion after Converge breached the 3 million residential subscriber mark.
Key profit measure earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 3.3 percent to P6.9 billion, with EBITDA margin remaining among the strongest in the industry at 61.8 percent.
“We celebrate this milestone of breaching the three million subscriber mark with our customers. This demonstrates our commitment to provide world-class connectivity to the broadest number of our people, especially those in the unserved and underserved communities,” CEO and co-founder Dennis Anthony Uy said.
Enterprise growth offsets maturing broadband market
Residential revenues rose to P9.2 billion as total subscribers reached 3.09 million by end-March, with fiber net additions hitting nearly 105,000 during the quarter.
Enterprise revenues, meanwhile, jumped 16 percent to P2 billion as Converge continued expanding its SME and corporate customer base.
Balance sheet stays healthy
Converge also continued expanding its digital infrastructure footprint through new data centers in Caloocan and Angeles designed to support enterprise workloads, AI applications and data residency requirements.
Return on invested capital remained strong at 15.6 percent, while net debt stayed manageable at P15.8 billion despite additional borrowings and continued network expansion.
The company also declared cash dividends of P0.49 per share following its 2025 performance, signaling confidence in its cash flow and balance sheet strength.
Customer service and network quality improve
The company has also shifted more attention toward customer service and network reliability as competition in fiber broadband intensifies and residential growth normalizes.
Average ticket times improved 27 percent from the previous quarter, while one-day service repair resolutions rose nearly 20 percent.
“We need to invest in people who run and maintain our fiber network. We don’t want to lose our Filipino talent, including these skilled technicians, to jobs abroad,” Uy said as the company accelerated hiring for network and repair teams.
—Edited by Miguel R. Camus
