Electronic Arts Reports "Solid" First Quarter Financials

Electronic Arts Reports "Solid" First Quarter Financials

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Electronic Arts reports that digital sales are way up and boxed sales are way down in the first quarter of its 2014 fiscal year.

The numbers are in for the first three months of EA's fiscal 2014, and they're actually not terrible. They also reflect the ongoing trend toward digital sales: GAAP net revenues for digital sales hit $482 million for the quarter, compared to $342 million over the same quarter last year, while packaged goods added up to $452 million, down dramatically from $592 million the previous year. Total GAAP net revenues for the quarter were $949 million, a slight drop from $955 million in FY2013.

EA had particular success with FIFA 13, which earned $70 million in net revenues over the quarter, a 92 percent increase over FIFA 12 in the first quarter of FY2013, while FIFA Online 3 net revenues were up 88 percent over FIFA Online 2. Mobile and handheld digital revenues were up 30 percent year-over-year to $103 million, and EA claimed to be the top publisher in Western retail markets for the calendar year and the top global publisher of iOS games for the quarter.

"EA had a solid quarter driven by continued digital growth and disciplined cost management," said Executive Chairman Larry Probst. "We are also executing on a clear set of goals for leadership on mobile, PC, current and next generation consoles." Chief Financial Officer Blake Jorgensen added that EA was reaffirming its non-GAAP guidance of $4 billion for the 2014 fiscal year.

Source: Electronic Arts

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EA is known for producing many solids. In fact solids pass through EA quite regularly. They are professional solid manufacturers.

people stahp buying their products please PLEASE especially the same fifa game ><

Seems like only yesterday people were so convinced EA was utterly crashing. Ah well.

mrhateful:
people stahp buying their products please PLEASE especially the same fifa game ><

I'll continue buying games I like. Fortunately (I guess) Ea keeps publishing less and less stuff I care about.

Actually I am completely ok with EA making tons of money from FIFA and lazy iOS games. Hopefully they'll realize that's where the money is and release all of the studios like Bioware and Visceral so they can go back to making games that don't have to be watered down for sequel after sequel.

But then that's just wishful thinking.

Still, there has to come a point where EA realizes that shallow, yearly releases with huge budgets don't work for non-sports games, right? .....right?

So.. digital sales huh? That must mean DLC, microtransactions, in-app purchases and freemium mobile games. Note to self: more of these things.

(lolneverevergiveEAcreditalwaysbashthem)

Abomination:
EA is known for producing many solids. In fact solids pass through EA quite regularly. They are professional solid manufacturers.

Brilliant.

Abomination:
EA is known for producing many solids. In fact solids pass through EA quite regularly. They are professional solid manufacturers.

If EA was a henchmen, they'd be Number 2.

Zachary Amaranth:
Seems like only yesterday people were so convinced EA was utterly crashing. Ah well.

mrhateful:
people stahp buying their products please PLEASE especially the same fifa game ><

I'll continue buying games I like. Fortunately (I guess) Ea keeps publishing less and less stuff I care about.

Revenue is not profit. It's quite likely they're still very much in the red.

Stevepinto3:
Actually I am completely ok with EA making tons of money from FIFA and lazy iOS games. Hopefully they'll realize that's where the money is and release all of the studios like Bioware and Visceral so they can go back to making games that don't have to be watered down for sequel after sequel.

But then that's just wishful thinking.

Still, there has to come a point where EA realizes that shallow, yearly releases with huge budgets don't work for non-sports games, right? .....right?

Or...

They could realize there's no money to be made in making games that take 5 years to perfect, only to be maimed by random internet people over technicalities. And then close down all AAA studios to concentrate solely on cash cows like the Sims and mobile games.

Which one do you think is more likely?

Hooray EA! Maybe not the best business practices, but I stand behind them

Abomination:
EA is known for producing many solids. In fact solids pass through EA quite regularly. They are professional solid manufacturers.

lol that was awesome. thank you for that.

OT: considering the HUGE changes between each FIFA, no wonder they make 'net revenues' of insane moneyz, if they didn't spend marketing up the wazoo for their other games, they wouldn't be in the fucking red for most games. (look at dead space 3)

Okay, so maybe EA isn't completely incompetent after all...

Does this mean I should buy shares in them or are their dividends as crappy as most of their games?

Nazrel:

Revenue is not profit. It's quite likely they're still very much in the red.

Statement of the obvious aside, "in the red" is quite the hyperbolic statement. Especially given their costs have remained virtually flat.

Damn it, again? Jesus christ, it's like people aren't even noticing when their FIFA 38 copy comes with a mail bomb in the package. I'm starting to wonder why I even took this job at EA

Thank you, people who buy same game for 13 years in the row, for keeping EA profitable.

Roxor:

Does this mean I should buy shares in them?

No. Absolutely don't do that.

 

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