EA Reports Losses of $308 Million In Fiscal Q3 2014
Written Wednesday, January 29, 2014 By Richard WalkerView author's profile
Electronic Arts has reported a net loss of $308 million for its fiscal third quarter of 2014, with overall revenues down a considerable amount in comparison to the company's reported figures last year.
For the period of three months from October 1st, 2013 until December 31st, 2013 that makes up the firm's fiscal Q3 2014, EA reported a net revenue of $808 million. During the same quarter last year, EA reported $922 million in revenue. However, the figures show a 16.3% increase over last quarter's $695 million in earnings.
A boost in digital sales has helped buoy EA's earnings, with 50.7% of revenue ($410 million) coming from digital avenues. Meanwhile, a 60% increase in purchases for FIFA Ultimate Team, Madden NFL Ultimate Team and NHL Ultimate Team sales on a non-GAAP basis (Generally Accepted Accounting Principles) have also been reported.
EA also reported a trailing twelve-month total revenue of $3.66 billion, projecting $3.52 billion in revenue for its entire fiscal 2014 (year ending March 31st). $1.07 billion of said revenue is expected to come during the company's next quarter. Presumably the lion's share will come via digital once again.
[Via Joystiq | Thanks, StayonTarget]