November 5th, 2007 by Arjan Olsder Posted in Companies & M&A | No Comments »
EA has reported the financial results of their company. Though mobile revenues went up about 6%, annual expectations went down.
Revenue for Q3 was $ 640 million, a dip of 18% compared with the $ 784 million last year. Key revenue drivers for EA are Madden NFL 08, FIFA 08, NCAA Football 08, Tiger Woods PGA Tour 08 and MySims, all selling over 1 million copies.
Year-on-year, gross profit went down 45% and is now at $245 million. Net loss for the quarter was $ 195 million as compared with net income of $ 22 million with the period last year. Diluted loss per share was $ 0.62 compared with earnings per share of $ 0.7 for the period last year. Non-GAAP diluted earnings per share where $ 0.27 as compared to $ 0.21 last year.
“Our strategic priorities on quality, innovation and managing cost are showing progress,” said John Riccitiello, Chief Executive Officer. “Highly accessible new properties like SKATE and MySims have broken through with consumers and EA SPORTS continues to deliver great experiences on every platform. We’ve also announced a restructuring as part of a plan to better align cost with revenues.”
“We think this will be a great holiday season for consumers,” said Warren Jenson, Chief Financial and Administrative Officer. “We plan to launch over ten titles including The Simpsons Game, Need for Speed Pro Street, Hellgate: London, Rock Band, NBA Live 08, SimCity Societies and Crysis.”
