Converge Information and Communications Technology Solutions, Inc. is standing firm on its growth targets this year despite mounting inflationary pressures and macroeconomic uncertainty, betting that internet demand will remain resilient.
At a virtual briefing on Thursday, Converge Chief Financial Officer Robert Yu said the company is not considering revising its full-year guidance for now, although it continues to closely monitor economic conditions.
“At this point in time, we are not, but we are monitoring it very closely,” Yu said. “Persistent high inflation obviously affects discretionary and all spending on consumers. So we hope that things will abate soon.”
Earlier, Converge said it is targeting revenue growth of 8 to 10 percent this year, driven by sustained demand from both residential and enterprise customers, even as elevated inflation continues to squeeze consumer spending.
Despite these pressures, Yu said changing consumer behavior could help offset weaker spending, particularly as more Filipinos stay at home and rely heavily on internet connectivity.
“But there are a few things to consider. As mobility decreases, the need for internet at home also increases, and so it balances out,” he said. “So we will monitor it. But at this point in time, no revisions yet.”
Even as economic challenges weigh on consumers, Converge also said it has no plans to scale back its aggressive infrastructure investments, underscoring its push to strengthen its position in the country’s broadband market.
“I think we are quite good at cost controls. That's why we're able to generate industry-leading return on investment capital,” he said. “But the point of cost control isn't necessarily to cut costs, but also to make sure that we do have a mission in mind, which is to provide the right services to Filipinos.”
In line with this strategy, the company is maintaining its capital expenditure commitment of P18 billion to P23 billion, with investments focused on expanding connectivity infrastructure nationwide.
Converge reported net income after tax of P3.0 billion in the first quarter, nearly unchanged from P3.019 billion in the same period last year, despite posting higher revenues.
The fiber internet service provider said consolidated revenues rose 3.7 percent to P11.2 billion from P10.8 billion a year earlier, although growth slowed from the double-digit pace recorded in the same period in 2025.