EA Profits $221m In the June 2011 Quarter on $999m in Revenue - NewsVGChartz Staff, posted on 26 July 2011 / 7,451 Views
EA financial results for the June 2011 quarter have arrived. After previously projecting revenue of $910m to $950m for the quarter, EA revenue reached $999m, slightly ahead of forecast. In the June 2010 quarter, EA revenue on a GAAP basis reached $815m.
The company had expected profit to reach 44-53 cents per share on a GAAP basis for the quarter. With about 330m shares, that forecast came to $145m to $175m in profit. Actual profit for the quarter reached $221m, up from $96m in the June 2010 quarter. On a non-GAAP basis, which includes far less revenue due to accounting differences, EA lost $123m on $524m in revenue for the quarter
EA previously projected to earn $3.725-$3.950b in revenue for the March 2012 year. The company now expects full year revenue to reach $3.825b - $4.025b. Despite the revenue forecast bump, EA now expects profit / losses to range from -10 cents per share (-$33m) for the year to 21 cents per share in profit (up to $69m), compared to the previous forecast which ranged from a minimal 4 cent loss per share and a higher 26 cent profit per share.
For the June 2011 quarter, EA expects GAAP revenue to reach $675m to $725m, with non-GAAP revenue figures (due to deferring) will reach $925m to $975m. EA forecasts a loss of $287m - $340m for the quarter on a GAAP basis for the quarter, up from the previous projection.
Overall, EA made more money than it expected to for the quarter, but still lowered its profit forecast for the year. The company also raised its forecast for digital revenue to $1.1b to $1.15b from up to $1b previously.
For the June 2011 quarter, EA listed the following figures as highlights:
- Dead Space 2 & Dragon Age 2 have both topped 2m units lifetime to date. Portal 2 sold over 2m in the 'first quarter'.
- EA had two of the top ten Ipad games in June, and five of the top ten games for Verizon phones.
- EA was the number one publisher in the West with a 16% share of software in the June quarter.
- Four of the top 20 games in Western markets in the quarter were from EA: Tiger Woods, Fifa, Crysis 2 and Portal 2.
- Fifa 11 has topped 15m units when digital, retail and mobile platforms. Battlefield: Bad Company 2 topped 9m by the same measure (across all platforms).
- Digital revenue in the year to June 2011 was $854m - up 35% from the year to June 2010. Console digital revenue was up 91% in that same time frame. Digital revenue for the June 2011 quarter increased 11% from the June 2010 quarter to $209m.
EA also provided a breakdown of revenue for the quarter, summed up below:
- For the June 2011 quarter, EA's largest platforms by revenue were: X360 ($345m, +32% year over year), PS3 ($308m, +47%), PC ($205m, +10%), Mobile ($57m, +10%), Wii ($42m, +5%), 'Other' ($20m, -20%), PSP ($11m, -42%), DS ($8m, - 27%), PS2 ($3m, -73%)
- Over the past year EA has generated $1.138b in revenue on X360, $1.099b on PS3, $688m on PC, $268m on Wii, $235m on Mobile (platforms), $130m on 'Other', $93m on DS, $66m on PSP, and $56m on PS2.