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Post by Eorl @ 09:21am 29/01/14 | 2 Comments
Electronic Arts has posted their third quarter 2014 financial report, coming in off a tough quarter where the company experienced lower increases in digital sales, however found diminished retail revenue. Retail was down year-over-year from $568 million in December 2012 to $370 million in December 2013.

For digital revenues, EA saw a rise from $321 million to $410 million, however the digital revenue didn't rise enough to cover the decrease in retail sales. EA experienced a GAAP net loss of $308 million in comparison to a net loss at this time last year of $45 million, and lower net revenue from $922 million to $808 million year over year.

EA is lowering its revenue projections for the current fiscal year (ending March 31, 2014) from $3.55 billion to $3.52 billion. The publisher cites softness in the Xbox 360 and PlayStation 3 segment of the market, noting that it surprised them how quickly next-gen was received. It has however increased earnings per share due to reduced expenses yielding higher profits.
“EA’s third quarter marked an exciting start to a new generation of games, and we are proud to have been the #1 publisher on next-generation consoles in December, with millions of gamers across the globe playing EA titles on the PlayStation 4 and Xbox One,” said Chief Executive Officer Andrew Wilson. “In addition to consoles, our mobile games, digital downloads and live services are growing year-over-year as we continue to deliver exciting new experiences to gamers around the world.”

“In a transitional quarter, EA delivered EPS results above our guidance driven by strong sales of our next-generation console titles, continued growth in our digital games and services, and financial discipline across the business,” said Chief Financial Officer Blake Jorgensen. “For our full year outlook, we are lowering our non-GAAP net revenue guidance to $3.91 billion due to the weakness in current generation software, but we are increasing our non-GAAP EPS guidance to $1.30 due to the improvement in our operating profits.”
According to the financial results, EA was also the #1 publisher for next-gen consoles, making up 35% of the Western World PlayStation 4 and Xbox One software sales in the third quarter. Its mobile section also performed exceptionally well, bringing in $125 million in Q3 fiscal 14, a 26% year-over-year increase over Q3 fiscal 13 thanks in-part to the popular iOS and Android title The Simpsons: Tapped Out.

For the full financial report, you can head to the official website where you can also find the currently active earnings conference call.

Latest Comments
Posted 10:03am 29/1/14
"there"?!! *raaaaaaaage*!
Posted 10:05am 29/1/14
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