EA Loses $276m in the March 2011 Year, Makes $151m in Q1 2011 - News
by VGChartz Staff , posted on 04 May 2011 / 4,701 Views
EA's fiscal year and quarterly results through March 2011 have just arrived. The company generated $3.589b in revenue on a GAAP basis for the year to March 2011, down a bit from the $3.654b generated in the prior March year. EA forecast revenue of $3.47b to $3.57b for the year as of its previous earnings release, so EA beat its projection slightly. Sticking with GAAP, EA lost $276m in the March 2011 year, in line with the latest forecast. In the March 2010 year, EA had a far larger loss of $677m, so the company continues to see profitability increase as it tightens operations.
For the most recent quarter ending in March 2011, EA revenue reached $1.09b, as profits hit $151m. EA had projected revenue of $975m to $1.075b, and thus beat its revenue forecast slightly. Profit was in the middle of the range forecast for the quarter. In the previous March quarter, EA revenue was $979m, and the company had a smaller $30m profit.
For the March 2012 year, EA expects revenue of $3.7b to $3.9b on a GAAP basis. The company expects profits to range from break even to 28 cents per share. As EA expects to have 329 million shares this fiscal year, profit is forecast to reach $0m-$92m in the March 2012 year, which would be an enormous improvement from the March 2011 year.
In addition to providing the financial information, EA provided a number of highlights for the fiscal year and the quarter.
- In January to March, EA was the top publisher on X360 & PS3 in the 'Western World' (North America, Europe, Australia). The company was the top publisher overall in Europe, with 20% of the market for the quarter, as well on PC.
- EA released 15 games that had a Metacritic rating of 80 or more in the fiscal year.
- EA had 15 of the top 25 paid iPhone games over Easter weekend.
- During the March 2011 quarter, EA shipped seven titles that have topped 1m units. Crysis 2, Dragon Age 2, and Dead Space 2 are each over 2m already.
- For the fiscal year EA had five titles ship over 5m units. Battlefield: Bad Company 2 was one of those games and has topped 7m, while Fifa has topped 12m units to date.
- Dead Space 2 is trending 40% higher than the first game over the same time frame.
- Digital revenue for EA was $211m in the March 2011 quarter, up from $144m in the previous March quarter. Digital includes iPhone, DLC, and other content or games purchased online.
- Catalogue and digital titles performed above expectations for the quarter.
- According to EA, HD software sales dropped 6% in Q1 2011 compared to Q1 2010 but the company expects a recovery by the end of the year.
- Digital software reached $25b in the March 2011 fiscal year according to EA.
- EA is now making tens of millions of dollars in digital revenue from titles such as Fifa & Battlefield: Bad Company 2
Finally, EA also provided a breakdown of revenue by platform for the March 2011 quarter and for the March 2011 year (page 16).
- X360 quarterly revenue was $336m, up 22% from the previous March quarter, and 30.8% of total quarterly revenue. For the March 2011 year, X360 revenue was $1.055b, or 29.4% of total EA revenue. X360 was the lead platform for EA in the quarter.
- PS3 quarterly revenue was $357m, up 31% from the previous March quarter, and 32.7% of total quarterly revenue. For the March 2011 year, PS3 revenue was $1.000b, or 27.9% of total EA revenue.
- Wii quarterly revenue was $71m, flat from the March 2010 quarter, and 6.5% of total quarterly revenue. For the March 2011 year, Wii revenue was $266m or about 7.4% of total EA revenue.
- PS2 quarterly revenue was $4m, down 82% from the previous March quarter, and 0.4% of total quarterly revenue. For the March 2011 year, PS2 revenue was $64m or about 1.8% of total EA revenue.
- Total console revenue was 70.4% of all EA revenue for the quarter, and 66.5% of all EA revenue for the fiscal year.
- DS quarterly revenue was $28m, up 22% from the previous March quarter (possibly because EA is including 3DS), and 2.6% of total quarterly revenue. For the March 2011 year, DS revenue was $96m, or about 2.7% total EA revenue.
- PSP quarterly revenue was $16m, down 57% from the previous March quarter, and 1.5% of total quarterly revenue. For the March 2011 year, PSP revenue was $74m, or about 2.1% of total EA revenue.
- PC quarterly revenue was $171m, down 4% from the previous March quarter, and 15.7% of total quarterly revenue. For the March 2011 year, PC revenue was $669m, or 18.6% of total EA revenue.
- Mobile quarterly revenue was $70m, up 27% from the previous March quarter, and 6.4% of total quarterly revenue (notably, bigger than DS & PSP combined for the quarter). For the March 2011 year, Mobile revenue was $230m, or 6.4% of total EA revenue.
- 'Other' quarterly revenue was the remaining $37m, down 20% from the previous March quarter, and 3.4% of total quarterly revenue. For the March 2011 year, 'Other' revenue was $135m, or 3.8% of total EA revenue.
- Well over a quarter of EA revenue for the fiscal year was not generated on Sony, Microsoft or Nintendo platforms based on the figures above.
More earnings fun will be coming later this week, keep checking VGChartz for more information.
Contact VGChartz at jmazel@vgchartz.com
More Articles
Is FIFA 11 the best selling football game ever ?
http://www.mandymoorefan.org mandy moore http://www.holidaythailand.org holiday thailand http://www.incomeinsurance.org income insurance
mandy moore holiday thailand income insurance
When will they exactly make profits, I don't recall them announcing anything except loses, shouldn't this CO be the NO 1 western Co
Yea how the hell are they still kicking and with all the sales, how the hell are they losing so much money. cut some of the higher exects pay.
when was the last time EA made an annual profit? I don't recall a single profitable year for EA since I first started visiting this site.
Hope EA recovers fast. Crysis2 selling faster than crysis; crytek needs not to cry.
there big game is end of this year or begining 2012....
Well, at least the losses arnt as high as they used to be, still though.
