Electronic Arts has reported its Q1 fiscal earnings, and despite the weakened economy, their profits continue to climb.
“We had a solid first quarter, exceeding expectations both top and bottom line,” said John Riccitiello, Chief Executive Officer. “Top quality titles like 2010 FIFA World Cup South Africa, innovative digital offerings for titles like Battlefield: Bad Company 2 and Scrabble on the Apple iPad are driving the business.”
EA’s Net Digital Revenue for Quarter ending 6/30/2010 was $176 million. When combined with Net Publishing Packaged Goods and Other Revenue, and Net Distribution Goods Revenue, the GAAP Total net revenue came to $815 million. Last year at the same time, EA’s total earnings were $644 million. That is roughly a 21% increase since last year.
“EA is well-positioned for the year ahead and reaffirms its FY11 non-GAAP guidance,” said Eric Brown, Chief Financial Officer. “Digital revenue is expected to grow approximately 30% year over year, to $750 million in the fiscal year.”
EA Q1 Report– Resource
