NOW Corp. first quar­ter in­come up

Manila Bulletin - - Business Tech -

NOW Cor­po­ra­tion, is get­ting a big boost as the com­pany’s net in­come spikes in the first quar­ter of 2018, months be­fore the se­lec­tion of the coun­try’s new ma­jor tele­com player. NOW, a Tele­com, Me­dia and Tech­nol­ogy listed firm in the Philip­pine Stock Ex­change, achieved a con­sol­i­dated in­come in­crease of 248.18%, from P1.01 mil­lion in the first quar­ter of 2017 to P3.53 mil­lion of the same pe­riod this year. This can be partly at­trib­uted to the com­pany’s stream­lined op­er­a­tions. In the same pe­riod, NOW re­duced its op­er­a­tional ex­penses by 9.04%, from P31.72 mil­lion in the first quar­ter of 2017 to P28.85 mil­lion of the same pe­riod this year.

NOW’s cur­rent fo­cus is with the ex­pan­sion of its Fiber-in-the-Air busi­ness. The Com­pany started of­fer­ing the broad­band in­ter­net ser­vice in late 2015 and has since proved to be one of the main rev­enue driv­ers. Rev­enues more than tripled with a topline post­ing of P5.98 Mil­lion last 2016 to P24.51 Mil­lion in 2017. As such, the Com­pany is con­fi­dent that it will be able to re­peat its stel­lar growth in the broad­band in­ter­net busi­ness seg­ment, as the in­dus­try re­quires for faster and more re­li­able ser­vice.

“The pri­or­ity this year is the ex­pan­sion of our Fiber-in-the-Air net­work as well as com­ple­ment­ing IT ser­vices such as cloud ser­vices, dis­as­ter re­cov­ery, ar­ti­fi­cial in­tel­li­gence and col­lab­o­ra­tion tools. We al­ready know which cus­tomer seg­ment to cap­ture and the goal is to achieve the fi­nan­cial met­rics; thus, a flaw­less ex­e­cu­tion of our plans is cru­cial,” says Kris­tian A. Pura, Head of Busi­ness De­vel­op­ment and Strat­egy of the listed firm. “To date, we have ac­ti­vated more than 150 lo­ca­tions and we con­tinue to ex­pand in the deeper parts of Metro Manila.

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.