Converge Information and Communications Technology (ICT) Solutions Inc. saw its net income jump to P3.39 billion last year from P1.94 billion in 2019. In a virtual briefing on Thursday, the listed internet provider reported consolidated revenues of P15.65 billion in 2020, up 71 percent from P9.14 billion. Converge ended 2020 with 1,038,000 residential subscribers, nearly doubling its 530,000 subscriber base in 2019. Converge continued to accelerate its nationwide rollout last year and deployed around 1.5 million new fiber-to-the-home (FTTH) ports, 1.75 times more than the 2019 figure. Its nationwide network reached more than 6.1 million homes by end-2020, putting the firm on track to meet its target to cover around 55 percent of local households by 2025.

Source: Manila Times March 12, 2021 16:18 UTC