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.”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.