CASUAL games maker Xurpas Inc. on Monday said its net income rose 16 percent to P68.49 million in the first three months of the year from P59.21 million a year earlier, because of multiple acquisitions.
Revenues more than doubled to P350.42 million from the P132.23 million in the same comparable period.
“The company’s topline performance was driven by strong growth . . . in its core business as well as its acquisitions,” the company told the Philippine Stock Exchange.
Its mobile consumer segment continues to account for about 60 percent of the business, rising to P205.36 million during the period from P108.97 million.
Mobile enterprise business increased by more than eight times to P138.63 million from P16.43 million, because of the purchase of Yondu Inc. in September 2015.
From 12 percent a year earlier, the mobile enterprise segment now accounts for 40 percent of company revenues.
In addition to Yondu, which provides over 600 skilled developers and project managers to serve the enterprise side of the business, another standout among Xurpas’ investee companies has been Xeleb Inc.
“The reception of the mobile casual games launched by Xeleb was amazing, and new users are enjoying our games every day. We are proud of our world-class team and are even more excited at the line-up of new games we will be launching later this year,” said Raymond Racaza, chief operating officer of Xurpas and president of Xeleb.
“The mobile enterprise investments we made last year are now starting to pay off. Our mobile enterprise segment has grown tremendously, and now makes up a significant proportion of the business. While our mobile consumer segment continues to grow, we are also building multiple sustainable and complementary revenue streams. This is important to us for sustained long-term growth,” he added.
Racaza has pioneered the development of mobile consumer products, Xurpas’ main core business, and overseers the operations of all companies within the group.
Xurpas mainly creates casual games for Android-powered smartphones, but has expanded to other industries to serve the enterprise market.