EA Beats Expectations With Big Swing To Profitability In Q1

By August 3, 2010Newswires

EA Beats Expectations With Big Swing To Profitability In Q1

by Chris Remo

Outperforming Wall Street’s expectations, major publisher Electronic Arts posted profits of $96 million in its first fiscal quarter of this year, a massive leap from last year’s $234 million loss for the same quarter.

That profit boost for the three months that ended June 30 was paired with a 27 percent year-over-year increase in net revenue from $644 million to $815 million, which prompted CFO Eric Brown to say in a statement that “EA is well-positioned for the year ahead and reaffirms its FY11 non-GAAP guidance.”

EA is claiming to be the number one publisher on numerous platforms by market share for the calendar year so far. The company says its 22 percent high-definition console share, up 4 points year-over-year, is the highest in the business, as is its 33 percent PC game share, driven by retail and strong growth in digital sales.

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