EA revenue up but profit off in Q3
Video game maker Electronic Arts Inc. reported a 38% drop in its fiscal third-quarter profit to $160 million Thursday because of higher expenses and charges. But revenue rose 1% to $1.28 billion, slightly exceeding Wall Street estimates, driven by sales of such titles as "Need for Speed Carbon," "FIFA 07," "The Sims 2 Pets" and "Madden NFL 07." Each sold more than 3 million copies in the quarter. EA also boosted its fiscal full-year guidance. Some on Wall Street had been preparing for an earnings disappointment from EA as video game firms tend to see weaker results during times of transition to new gaming consoles, such as Sony Corp.'s PlayStation 3. Chairman and CEO Larry Probst said that EA plans to "significantly increase our support for the Nintendo platforms" in the year ahead.