{"id":329817,"date":"2024-10-10T01:02:15","date_gmt":"2024-10-09T17:02:15","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329817"},"modified":"2024-10-10T01:03:37","modified_gmt":"2024-10-09T17:03:37","slug":"trade-the-news-converge-partners-with-netflix-to-expand-services","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-converge-partners-with-netflix-to-expand-services\/","title":{"rendered":"Trade the News: CNVRG partners with Netflix to expand services"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Converge ICT Solutions, Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>CNVRG<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 18.67<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Converge ICT Solutions, Inc. (CNVRG) has partnered with streaming service Netflix to offer media services.<\/p>\n\n\n\n

In a stock exchange disclosure on Tuesday, Converge said it is extending its services beyond connectivity by offering internet and Netflix entertainment plans.<\/p>\n\n\n\n

According to the company, the new Converge Netflix bundle will be offered to its existing FiberX customers.<\/p>\n\n\n\n

\u201cThe new Converge Netflix Bundle will include a boosted FiberX plan with 325 Mbps speeds for faster streaming, a Netflix subscription with a lock-in period of 36 months, a new Wi-Fi 6 Next Gen Modem, and a Converge XperienceBox with Freemium Channels \u2014 all put together into one subscription for the convenience of the customer,\u201d the company said.<\/p>\n\n\n\n

It said the bundle plans target to expand its entertainment offerings.<\/p>\n\n\n\n

Converge has revised its revenue growth forecast for 2024 to between 12% and 14%, up from the earlier estimate of 7-8%, driven by market optimism after posting strong financial results.<\/p>\n\n\n\n

It registered an attributable net income of P2.74 billion, up 29.8% from P2.11 billion in the same period last year, its financial statement showed.<\/p>\n\n\n\n

Despite posting increased gross expenses for the April-to-June period at P6.18 billion, 15.1% higher than P5.37 billion previously, the company managed to register higher earnings on elevated revenues.<\/p>\n\n\n\n

For the first semester, Converge\u2019s attributable net income climbed to P5.29 billion, marking an increase of 23.6% from P4.28 billion in the same period last year.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329817","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329817"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329817\/revisions"}],"predecessor-version":[{"id":329820,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329817\/revisions\/329820"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}