Converge ICT posts P4.3B, up 8.5% in H1

Converge ICT Solutions Inc. posted a net income of P4.3 billion in the first half of 2023, up 8.5% year-on-year as it grew its customer base during the period.

In a disclosure to the Philippine Stock Exchange on Thursday, Converge ICT said it ended the first semester of the year with a total of 1,969,663 subscribers.

The number comprises 1,915,502 postpaid subscribers and 54,161 prepaid subscribers.

Net additional subscribers reached 92,302 in the first half, it said.

Consolidated revenues stood at P17.4 billion, up 8.1% from a year earlier.

Revenues from the residential business grew from P14.08 billion in the first half of 2022 to P14.87 billion in the first six months of 2023.—AOL, GMA Integrated News