{"url":"https://newsforagent.com/news/2026-11-07/converge-nine-month-profit-decline","markdown_url":"https://newsforagent.com/news/2026-11-07/converge-nine-month-profit-decline.md","title":"Converge Net Income Falls 9.1% to P8.1 Billion","headline":"Converge Posts P8.1 Billion Nine-Month Profit as Costs Outpace Revenue Growth","description":"Converge ICT Solutions earned P8.1 billion in the first nine months of 2026, down 9.1%, as operating costs rose faster than revenue and the enterprise unit grew 22%.","section":"Earnings & Results","published_at":"2026-11-07T00:22:45+00:00","modified_at":"2026-11-07T00:22:45+00:00","author":"News Desk","key_takeaways":["Converge ICT Solutions reported net income of P8.1 billion for January to September 2026, down 9.1 percent from P8.9 billion a year earlier.","Consolidated revenue rose 3.9 percent to P34.2 billion, while the enterprise business grew 22 percent to P6.4 billion.","Cost of services climbed 14 percent to P12.96 billion and general and administrative expenses rose 7 percent to P8.38 billion."],"companies":[{"name":"Converge ICT Solutions Inc.","is_primary":true,"profile_url":"https://akta.pro/company-profiles/0000h9q/converge-ict-solutions-inc","website":"https://www.convergeict.com"}],"source":{"publisher":"Inquirer","title":"Converge earnings slipped to P8.1B at end-September","url":"https://business.inquirer.net/619882/converge-earnings-slipped-to-p8-1b-at-end-september"},"other_sources":[],"tags":["Earnings & Results","Converge ICT Solutions Inc."],"body_markdown":"[Converge ICT Solutions Inc.](https://akta.pro/company-profiles/0000h9q/converge-ict-solutions-inc) reported net income after tax of P8.1 billion for the first nine months of 2026, down 9.1 percent from P8.9 billion a year earlier, as rising costs offset revenue growth. The Inquirer [reported](https://business.inquirer.net/619882/converge-earnings-slipped-to-p8-1b-at-end-september) the results on November 7, 2026.\n\n## Converge Revenue Rises on Enterprise Demand\n\nConsolidated revenues for the January-to-September period rose 3.9 percent to P34.2 billion from P33 billion. The enterprise business grew 22 percent to P6.4 billion and accounted for nearly a fifth of consolidated revenues. Revenue from large corporate clients jumped 29.3 percent, while small and medium enterprises grew 15.4 percent on new customer acquisitions.\n\nCost of services climbed 14 percent to P12.96 billion from P11.42 billion, and general and administrative expenses rose 7 percent to P8.38 billion from P7.83 billion. Operating profit fell 8.1 percent to P11.96 billion, and the net profit margin narrowed to 23.6 percent. The residential business was largely flat at P27.9 billion in revenues with 3.1 million subscribers as of end-September.\n\nCofounder and CEO Dennis Anthony Uy said in a statement: \"Converge not only has the youngest but it also has the most resilient international network among Philippine operators today.\"\n\n## Converge Trims Full-Year Revenue Forecast\n\nConverge lowered its full-year projections in the first half of 2026, cutting its revenue growth target to between 4 percent and 6 percent from around 10 percent. The company also reduced its capital spending outlook to P17 billion to P20 billion from as much as P23 billion. Capital expenditures reached P9.9 billion in the first nine months, and net debt stood at P15.9 billion as of September.\n\n## Converge Data Center and Prepaid Fiber Plans\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Converge inaugurated a 12MW AI-ready data center in Angeles City, Pampanga, in March 2026, backed by a P5 billion investment and powered by renewable energy. The same records list 3.09 million subscribers as of the end of March 2026, with 104,932 residential fiber net additions in the quarter.\n\n## Earlier Converge Earnings and Network Events\n\nConverge reported a nearly 7 percent decline in net income to P5.5 billion in the first half of 2026, despite a slight revenue increase, amid inflationary pressures, Inquirer reported in August 2026. In October 2026, Inquirer reported that Converge is piloting a low-cost prepaid home broadband offering with monthly costs around P500, down from its current P700, and that the product could launch in the first quarter of 2027.\n\n## Converge Prepaid Fiber Pilot Timing\n\nInquirer reported that pilot testing of the prepaid fiber offer is planned for the fourth quarter in Mindanao, with a possible launch in the first quarter of 2027.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}