Electronic Arts Quarterly Profit More Than Doubles
The video game company's financials for its fiscal first quarter rose, but the bottom line and revenue declined when excluding certain factors.
NEW YORK - Video game company Electronic Arts reported fiscal first quarter earnings that more than doubled when including deferred revenue and acquisition-related and other items.
EA posted a quarterly profit of $221 million, up from $96 million in the year-ago period. Excluding deferred revenue and special items, the company had a loss of $123 million compared with a year-ago loss of $78 million.
Revenue of $999 million compared with $815 million thanks to such titles as NCAA 12 and Portal 2. But excluding deferred revenue, EA posted revenue of $524 million, down 2.8 percent.
"This was another solid quarter driven by both digital and packaged goods," said EA CEO John Riccitiello. He said that pre-orders for Battlefield 3 are tracking "extremely well."
EA also increased its digital revenue guidance to $1.1 billion-$1.15 billion for its current fiscal year.