Post by Eorl @ 11:22am 30/10/13 | 7 Comments
In his first quarterly financial report since becoming EA's CEO, Andrew Wilson has revealed a net loss of $273 million during that time, which is from July 2013 through the end of September.
According to the report, the publisher has seen a two percent decline in net revenue compared to the same three-month time frame last year, as total revenue reported by EA in the last quarter was $695 million. Joystiq reports that this "was a 26.8 percent decrease from the first quarter and was 11.2 percent above the company's projections for the second quarter."
“EA’s strong second quarter was driven by great title launches, continued digital growth, and financial discipline,” said Chief Executive Officer Andrew Wilson. “While we have made good progress in the first half of the year, we remain focused on executing our FY14 plan and delivering a full slate of amazing games and services to players on current and next-generation consoles, mobile, and PC.”
Chief Financial Officer Blake Jorgensen revealed that EA had exceeded "revenue and EPS guidance in the second quarter through a combination of delivering on revenue, and managing our costs."
The new financial report gave an insight into a number of high wins for the publisher, including Plants vs Zombies 2 which has been installed "over 25 million times on iOS devices since launching in August 2013, more than the lifetime total of the original Plants vs. Zombies." FIFA digital sales have also increased compared to the previous year, with digital net revenue generating over $145 million in the first half of fiscal 14.
EA also continues to strive in the mobile and handheld market, with a non-GAAP digital net revenue of $105 million, a 19% increase year-over-year from Q2 2013. One of the titles helping push EA is The Simpsons: Tapped Out, which has earned more than $100 million in digital revenue, a staggering amount that I'm sure to have helped.
The company did note that the financial report does exclude a previous $40 million college football lawsuit settlement from its non-GAAP (Generally Accepted Accounting Principles) financial measures and when "evaluating its operating performance and the performance of its management team during this period and will continue to do so when it plans, forecasts and analyzes future periods."
EA is expecting a net revenue of $775 million for the third quarter, which ends December 31. Read the full report over here.