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EA Reports First Quarter Profits of $96 Million

EA Reports First Quarter Profits of $96 Million

Development and publishing giant Electronic Arts has reported profits of $96 million for the first quarter–which ran from April 1 to June 30–of its 2011 financial year, up from a loss of $234 million compared to the same period last year.

“Top quality titles like 2010 FIFA World Cup South Africa, innovative digital offerings for titles like Battlefield: Bad Company 2 and Scrabble on the Apple iPad are driving the business,” said EA CEO John Riccitiello in the earnings statement. EA claims that it is “the #1 publisher on high definition consoles” with 22% share as well as “the #1 PC publisher,” holding 33% of the retail market so far this year and reporting “strong growth” in digitally-distributed full games. Net digital revenue rose to $176 million in the quarter, up an impressive 50% compared to last year.

Xbox 360 proved to be the top-performing platform, producing 32% of revenue, while the PlayStation 3, PC and Wii weighed in at 26%, 23% and 5% respectively.

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Stuart Davidson

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