DigiPlus posts net income of US$55.9m for Q2

Net income was up by 389 per cent year-on-year.

The Philippines.- DigiPlus Interactive Corp has shared its financial results for the second quarter of the year. Net income was PHP3.2bn (US$55.9m), up 389 per cent when compared to last year. The company attributed the growth to the performance of its digital retail segment combined with the rationalisation of revenue sharing with the Philippine Amusement and Gaming Corporation (PAGCOR) for electronic games implemented in April.

Revenue was up 295 per cent in year-on-year terms to PHP18.9bn (US$330.3m). This was driven by higher user traffic and the introduction of new game offerings. EBITDA was up 351per cent at PHP3.4bn (US$59.4m).

For the first half of the year, DigiPlus recorded a net income of PHP5.2bn (US$90.8m), up 377 per cent. Revenue was up 263 per cent to PHP32.5bn (US$567.7m) while EBITDA reached PHP5.5bn (US$96.1m), up 336 per cent year-on-year.

Eusebio Tanco, DigiPlus chairman, said: “The first semester was encouraging for DigiPlus. Despite the challenges, we strive to continue to innovate and deliver unparalleled digital entertainment experiences to our customers. By optimizing user engagement through personalized experiences and diversifying our content offerings, we believe we are poised to capture the strong growth of the digital entertainment industry.”

In the first half of 2024, the company paid PHP15.1bn (US$263.7m) in taxes and fees to the national government.

See also: DigiPlus unaffected by ban on offshore gaming operators

Net income was up by 389 per cent year-on-year. The Philippines.- DigiPlus Interactive Corp has shared its financial results for the second quarter of the year. Net income was PHP3.2bn (US$55.9m), up…