Converge Information and Communications Technology Solutions, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 10:35 pm EDT
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Converge Information and Communications Technology Solutions, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was PHP 8,720.38 million compared to PHP 8,306.37 million a year ago. Net income was PHP 2,112.73 million compared to PHP 1,980.66 million a year ago. Basic earnings per share from continuing operations was PHP 0.29 compared to PHP 0.27 a year ago. Diluted earnings per share from continuing operations was PHP 0.29 compared to PHP 0.27 a year ago.
For the six months, sales was PHP 17,362.05 million compared to PHP 16,053.88 million a year ago. Net income was PHP 4,284.87 million compared to PHP 3,950.72 million a year ago. Basic earnings per share from continuing operations was PHP 0.59 compared to PHP 0.54 a year ago. Diluted earnings per share from continuing operations was PHP 0.59 compared to PHP 0.54 a year ago.
Converge Information and Communications Technology Solutions, Inc. is a Philippines-based high-speed fixed broadband operator. The Company operates two businesses: residential and enterprise. The Company's residential business primarily offers high-speed fixed broadband postpaid and prepaid Internet services to its residential customers. Its enterprise business offers high-speed fixed broadband Internet services, private data network solutions, cloud and colocation services and other connectivity solutions to its enterprise customers of varying sizes, industries and types. The Company's residential business products and services include Fiber X, Fiber X Time of Day, The Game Changer, XCLSV, HomeBase, Condo Life with FiberX and Add-on. Its enterprise business products and services include flexiBIZ, Switch, Workplace SweldoMo, Workplace Hotel Management Software, Workplace Device Solutions, Carrier Ethernet, Converge Connect, Colocation, DC Express and Dedicated Internet Access.