Telcos say ‘hello again’ to further profit growth

Publicly held telecommunications companies said hello again to further growth. That signals still-resilient earnings and a positive outlook for the sector.

They sustained outperformance in the quarter, with sector earnings clocking in an aggregate core profit growth of 17% year-on-year. For the January to September period, that was a good 14%.

Converge Information and Communications Technology Solutions, Inc. (CNVRG)

• Converge led earnings growth on the back of superior net adds on fixed broadband, which continued to wrestle market share from its two key rivalsIts shift toward lower-priced prepaid broadband has reaped rewards
• Profit grew 40% year-on-year in the third quarter, and 29% in the January-September period
• Revenue was also up by double digits; +17% in the third quarter and +14% in