EA earnings double in first quarter

EA earnings double in first quarter

Electronic Arts has reported growth in profit and revenue for its first fiscal quarter ended June 30.

Net profit for the three months totalled $221 million, up from $96 million during the same period a year earlier, while revenue rose 23 per cent to $999 million.

Xbox 360 and PS3 software were the biggest revenue drivers for the publisher, bringing in a combined total of $653 million, while PC titles generated $205 million and mobile games $57 million.

Among its quarterly operational highlights, EA said it was “the number one publisher in western markets with 16 per cent segment share”.

EA also cited Portal 2 sales of over two million units during the quarter, while lifetime sales of Crysis 2 have now hit three million units, and Dead Space 2 and Dragon Age 2 have both surpassed two million sales.

FIFA 11 sales, including digital and mobile downloads, are just shy of 15 million units, and Battlefield: Bad Company 2 has sold over nine million copies.

"This was another solid quarter driven by both digital and packaged goods," said CEO John Riccitiello. "We saw strong digital revenue growth over the prior year. On packaged goods, NCAA is off to a great start and pre-orders for Battlefield 3 are tracking extremely well."

The company also said Star Wars: The Old Republic has broken EA pre-order records.

EA now expects to report full-year revenue of $3.825 billion to $4.025 billion, compared to its previous guidance of $3.725 billion to $3.950 billion. "EA is well positioned for the year ahead,” noted chief financial officer Eric Brown.

Earlier this month, EA announced that it is to acquire PopCap Games for at least $750 million, with the deal expected to close in August.