CONVERGE ICT Solutions, Inc. reported a 15.7% decline in attributable net income to P2.47 billion for the second quarter (Q2) as expenses grew faster than revenue. Residential revenue rose 0.82% to P18.52 billion and accounted for most of the company’s revenue during the period. Cost of services increased 9% to P7.99 billion, which Converge attributed primarily to higher depreciation and amortization, personnel costs, and service fees. General and administrative expenses rose 13% to P5.67 billion due to higher promotional spending, managed service fees, and repair and maintenance expenses related to network expansion initiatives. PAX SILICAMr. Uy also said Converge supports the Pax Silica initiative, which he said could benefit the country’s economy and digital infrastructure.