Converge subscriber base reaches 3 million

MANILA, Philippines — Broadband giant Converge ICT Solutions Inc. has surpassed the three million mark in subscriber count as of March, putting it on track to achieve its target of reaching four million by 2027.

Based on its financial report, Converge added more than 100,000 subscribers in the three months to March, bringing its customer count to 3.09 million.

Converge CEO and co-founder Dennis Anthony Uy said the provider is poised to hit its goal of four million subscribers by 2027, especially as it is pouring expansion money on new locations in the regions.

The company survived the economic challenges of the first quarter, keeping its profit steady at P3.02 billion. It posted a four percent gain in revenue to P11.19 billion, mitigating the three percent increase in expenses to P3.77 billion.

Converge’s residential revenues grew flat at P9.23 billion, held down by the service reliability of both flagship and low-cost services. The bright spot for Converge is that enterprise revenues rose by 16 percent to P2 billion.

Converge is becoming the internet service provider of choice by small and medium enterprises, a market that turned in a 17-percent growth for the company.

Still, Converge chief finance officer Robert Yu said the provider is not out of the woods yet, but is keeping spending in check for its financial health.

Converge is maintaining its original guidance of P18 billion to P23 billion for capital expenditures this year in spite of the opportunities that could be gained in the digital landscape.

Yu said Converge only spends on expansion projects that add value to the company. As a result, the provider was able to post an industry-leading return on invested capital of 15.6 percent.

Converge operates a fiber network of 8.48 million ports as of March, with utilization rate at 38.1 percent. For 2026, the provider aims to spend as much as P23 billion for capex, primarily to fund expansion projects in Visayas and Mindanao.

The amount will finance the installation of over 900,000 ports this year in fast-growing districts, including Capiz, Davao de Oro, Samar and Sultan Kudarat.

Converge will also allocate part of the capex to hook the Philippines to subsea cables and put up new data centers, raising the country’s digital capabilities.