EA beats forecasts to generate $808m revenue during last quarter

EA beats forecasts to generate $808m revenue during last quarter
Craig Chapple

By Craig Chapple

January 29th 2014 at 2:13PM

But losses deepen to $308m despite new-gen push and growing digital revenues

EA generated $808 million (£488m) in revenue for the three months ending December 31st.

The number, while down from the previous year's $922m in revenue during the same period, beat projected forecasts.

The company claimed it was the number one selling publisher on PS4 and XBox One during the launch period thanks to the likes of FIFA 14 and Battlefield 4.

Digital revenues were said to have increased 27 per cent year-on-year to $517m (£312m) on a non-GAAP basis.

EA's mobile and handheld digital net revenue also grew to $125m (£75.5m) in the last quarter, up 26 per cent on the same period last year.

The Simpsons Tapped Out is said to have made over $130 million (£78.5m) through Q3.

In total however, the company reported a net loss of $308 million (£186m), deeper than the loss of $45 million (£27m) the firm took during the three months ending December 31st in 2012.

Non-GAAP revenue for the year ending March 31st is expected to fall slightly from projects for $3.9 billion (£2.3bn). EA blamed the lower earnings on weakness of Xbox 360 and PS3 game sales.

“In a transitional quarter, EA delivered EPS results above our guidance driven by strong sales of our next-generation console titles, continued growth in our digital games and services, and financial discipline across the business,” said EA CFO Blake Jorgensen.

“For our full year outlook, we are lowering our non-GAAP net revenue guidance to $3.91 billion due to the weakness in current generation software, but we are increasing our non-GAAP EPS guidance to $1.30 due to the improvement in our operating profits.”