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Electronic Arts Announces Losses In Third Quarter Of Year

Electronic Arts Announces Losses In Third Quarter Of Year

Electronic Arts stated that a lack of game releases was behind a substantial loss made in the third quarter of the year. The financial figures were published in Edge magazine prompting a response from the EA management.

With fewer titles released over the “holiday quarter” sales figures were driven by the launches of Left 4 Dead 2, NBA Live and Dragon Age: Origins. Income was also bolstered by catalogue sales of FIFA 10, Madden NFL 10 and The Sims 3. This still wasn’t enough to keep them in the black for the quarter though, but EA didn’t seem too concerned with the situation.

John Riccitiello, Chief Executive Officer, said:

“EA is growing share in our packaged goods business and our digital businesses continue to grow rapidly. Mass Effect 2 is the first blockbuster of 2010 and we are looking forward to the launch of Dante’s Inferno and Battlefield Bad Company 2.”

Eric Brown, the Chief Financial Officer was more optimistic for what 2011 would bring. He added:

“We are expecting an increase in FY11 full year non-GAAP earnings per share on the basis of strong cost controls and growth in our digital businesses.”

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Stuart Davidson

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