Post by Eorl @ 11:23am 07/05/14 | 0 Comments
Publisher Electronic Arts has today revealed that the company has performed slightly better than what was previously expected for both the fourth quarter of its 2014 fiscal year and the full year.
While net revenue for the quarter ending March 31st came in at more than $1.12 billion, which was down 7.1 percent year over year, it was nearly 5 percent better than EA's guidance of $1.07 billion. For the full year ending March 31st, EA tallied net revenue of $3.58 billion — 5.85 percent below the 2013 fiscal year, but 1.56 percent ahead of the company's expectations.
"While navigating through a year of tremendous change in the industry, which included a challenging console transition, we were able to exceed revenue guidance, lower our operating expenses, double operating cash flows and invest in new products and services for the future," said Blake Jorgensen, EA's chief financial officer, in an investor release today.
The publisher attributed the high performance to three games; Respawn Entertainment's Titanfall, EA DICE's Battlefield 4 and EA Canada's FIFA 14. Each of the three titles were among the five best-selling titles in the West across all platforms in 2014. Digital net revenue came in at $491 million for the fourth quarter and $1.83 billion for the full year. Those figures include revenue from Madden Ultimate Team, which jumped 90 percent year over year.
EA is expecting a major recovery in 2015, with net revenue jumping to $1.2 billion. More details to arrive as the conference call begins for the company.