NOW Corp. first quarter income up
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.