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Wednesday, July 17, 2024

DigiPlus reports 596% income growth

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DigiPlus Interactive Corp., operator of digital gaming platforms, said Tuesday its net income surged 596 percent in 2023 to P4.1 billion, fuelled by sustained growth of its digital retail segment.

Revenues soared 306 percent to P27.3 billion in 2023 on higher user traffic in its flagship bingo platform and introduction of new platforms, the company said in a stock exchange filing.

EBITDA (earnings before interest, taxes, depreciation, and amortization) also expanded by nearly five-fold to P4.8 billion.

“We are pleased to see the sustained growth momentum across our digital offerings as we aim to usher a new era of entertainment in the space,” DigiPlus president Andy Tsui said.

“We continue to be optimistic about the prospects for the company as we invest in new technologies and product development to deliver innovative, fun, affordable and accessible digital offerings that are traditionally well-loved by Filipinos,” he said.

DigiPlus registered a net income of P2 billion in the fourth quarter, up 392 percent year-on-year as revenues grew 331 percent to P11.3 billion.

DigiPlus said it would continue to invest in new technologies and product development to establish a digital entertainment ecosystem and cater to broader demographics and lifestyle preferences.

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