Converge keeps 2026 revenue goal amid strong internet demand

CONVERGE ICT SOLUTIONS, Inc. is keeping its revenue growth target of up to 10% for 2026 despite economic pressures from the Iran war, as demand for internet services remains strong.

“We are monitoring it very closely,” Converge Chief Finance Officer Robert A. Yu told a news briefing on Thursday. “The persistent high inflation obviously affects discretionary spending of customers.”

He said the company has yet to revise its outlook, noting that slower mobility caused by economic uncertainty could increase demand for home internet services.

“So it balances out,” Mr. Yu said.

For the first quarter, Converge posted a 0.66% increase in attributable net income to P3.04 billion from a year earlier. Revenue rose 3.61% to P11.19 billion.

Residential services remained the company’s biggest business segment, contributing P9.23 billion or 82.48% of total revenue, while enterprise revenue reached P1.96 billion.

Converge said its residential subscriber base had risen to 3.09 million as of end-March.

The company is targeting revenue growth of 8% to 10% this year, supported by network expansion in underserved areas in the Visayas and Mindanao.

Total costs and expenses for the quarter rose 5% to P6.91 billion.

For 2026, the company has allocated P18 billion to P23 billion in capital expenditures. The budget will fund the installation of 900,000 additional ports in the Visayas and Mindanao and support network reliability improvements.

Converge shares rose 20 centavos or 1.82% to close at P11.20 each. — Ashley Erika O. Jose