INCREASED sales of its core services allowed Now Corp. to rake in P35.35 million in gross revenues in the month of October alone, achieving the company’s target for the fourth quarter of 2015 earlier than expected.
The figure is even higher than the one posted for the first nine months of 2014. The listed firm attributed the milestone to its aggressive selling of its core services: information-technology resource management, software collaborations, cloud services, broadband Internet and Technical Services.
“Our whole-year revenue projection for 2015 is P95 million, versus the P78 million we earned in 2014. We are still computing the projected net for 2015. The actual net loss for 2014 was P38 million. Though we aim to hit a net of negative P25 million for end of 2015,” Now Corp. President and CEO Mel V. Velarde said.
Clients of Now Corp. include Towers Watson, UCPB, Coca-Cola, SC Johnson, International Shared Services, Roxas Holdings, BDO, Chinabank, Philippine National Bank, Development Bank of the Philippines, Golden Arches Development Corp. (McDonalds), Phinma Group of Companies, SM Retail, Angelicum College, Times Plaza and Metropolitan Medical Center, among others.
In October the company launched and demonstrated live two new products, the Now Broadband Cable TV, a guaranteed broadband Internet service with Wireless Cable TV, and the NowPlanet.TV, a digital media platform as a product that converges free TV, Web channels, cloud services and other interactive services.
Now Corp. has a strategic partnership with a cable TV provider in Metro Manila, which shall deliver broadband and cable TV services. It is also a telecommunications, media and technology company of diversified services. The company has growing international presence in countries such as Japan, the US and the UK.
It plans to invest roughly $48 million to expand its business to introduce a text-only telecommunications player and set up its own broadband service in the Philippines.