Converge sees sustained video streaming quality for customers this year

LISTED internet service provider Converge ICT Solutions, Inc. on Monday said customers can expect sustained video streaming quality this year.

“Our customers can look forward to the same high-quality, lossless, and seamless video experience they’ve come to expect from Converge,” Dennis Anthony H. Uy, Converge chief executive officer (ceo), said in a statement.

Converge, which has two million subscribers, recorded an average speed of 3.25 megabits per second (Mbps) for 2023, the company said, citing an internet service provider test conducted by streaming service platform Netflix.

Global network testing firm Ookla has declared Converge as the fastest internet service provider in the country, recording a download speed of 457.56 Mbps for the second half of 2023.

The company, according to Ookla, has also recorded a speed score of 123.18 for the second half.

Converge operates a fiber footprint of about 682,000 kilometers. It has deployed 7.9 million fiber ports, covering 77.85% of the country’s population.

Earlier, the company announced that it is on track to complete and activate its subsea cable by 2024, a project designed to increase bandwidth in the region and support the adoption of 5G in the Philippines.

For the nine months ending September 2023, the company recorded an attributable net income of P6.37 billion, 4.3% higher than the P6.11 billion profit registered in the same period last year, driven by higher revenues.

The company’s combined revenues for the January to September period climbed by 7.2% to P26.25 billion from P24.48 billion previously.

At the stock exchange on Monday, shares in the company gained five centavos or 0.53% to end at P9.53 apiece. — Ashley Erika O. Jose