EA's financial results show digital is king
Written By Matt Sainsbury on Tuesday, May 8, 2012 | 15:03
Digital sales were up 47 per cent year-on-year. In real numbers, that's $US1.2 billion in digital revenue. That growth was instrumental in helping the company pull away from the loss it experienced in the previous year. EA stated that net income climbed from a loss of $276 million to a profit of $76 million. That's not much, but given the stresses facing games publishers at the moment, any profit is a good thing.
Other highlights include:
- EA's Steam rival, Origin, is up to 11 million subscribed users.
- Play4Free brands (including the Simpsons Farmville Clone, Tapped Out) are generating an average of nearly $2 million (non-GAAP) per week.
- Of the more traditional games EA attributes the good results to four major titles: Mass Effect 3, FIFA Street 4, SSX and Kingdoms of Amalur: Reckoning.
For the 2013 fiscal year, EA's projecting net revenues of about $4.075 billion and GAAP loss per share between $0.36 and $0.16.