Digital entertainment group DigiPlus Interactive Corp. (DigiPlus) saw its net income expand more than 300 percent in the first nine months of 2024 from a year ago, driven by the robust growth of the retail games segment, introduction of new product offerings and cost efficiencies.
Nine-month net income increased by 314 percent to P8.75 billion, as revenues soared 223 percent to P51.56 billion from P15.98 billion, the company said in a disclosure to the stock exchange Tuesday.
“As DigiPlus increasingly reaches steady-state growth coming from exponential expansion since our digital pivot in 2022, we intend to cement our market leadership through focused research and development efforts to strategically develop culturally relevant games that resonate with Filipino audiences,” DigiPlus chairman Eusebio Tanco said.
DigiPlus launched over the past years diversified offerings that cater to a broader spectrum of demographics, driving higher user engagement, attracting new customer segments, and contributing to substantial revenue growth.
The company is behind various digital entertainment platforms including BingoPlus, ArenaPlus and GameZone.
DigiPlus posted a net income of P3.52 billion in the third quarter, expanding 247 percent from a year ago. Revenues jumped 171 percent year-on-year to P19 billion, on higher user traffic combined with fresh contribution from new game offerings.
Meanwhile, earnings before interest, taxes, depreciation and amortization (EBITDA) surged 206 percent year-on-year to P3.83 billion in the third quarter.
DigiPlus launched in September Pinoy Drop Ball—the first live-streamed drop ball experience in the Philippines to sustain its growth momentum moving forward.
It also plans to accelerate innovation with R&D expansion and launch of Technology Bootcamp.
BingoPlus Foundation committed P109 million to fund its sustainability initiatives.
