Net income attributable to shareholders fell 12 percent to P8.85 billion from P10.11 billion a year earlier, while total revenue declined 32 percent to P45.75 billion, a stock exchange filing on Tuesday showed.
The company is now focusing on tighter spending and developing more of its own games to improve profitability while keeping players engaged.
“We remain focused on sustainable growth through self-development of compelling content, stronger user acquisitions and retention, and disciplined spending on A&P and investments,” DigiPlus president Ping Chen said.
Improving margins
Retail gaming revenue declined 32 percent to P44.9 billion, while net gaming revenue after direct gaming costs and taxes fell 17 percent to P16.18 billion.
Operating earnings, measured by EBITDA, dropped 25 percent to P8.33 billion, although third-quarter EBITDA edged up 0.3 percent from the previous quarter to P2.9 billion as margins improved to 22 percent.
More players, tighter spending
Average monthly active users increased 3 percent quarter-on-quarter to 5.9 million, while active bettors and depositors rose 5 percent to 4.9 million, suggesting its gaming platforms continued attracting customers despite softer revenue.
Reported earnings also benefited from a P2.23-billion noncash investment gain linked to International Entertainment Corp., cushioning the decline in operating profits.
DigiPlus ended September with P11.7 billion in cash, giving it room to pursue new games, technology investments and overseas expansion as it seeks to sustain the improvement in margins.
—Edited by Miguel R. Camus
