Electronic Arts has been losing quite a bit of money the last few years, despite publishing and developing a very long list of quality titles in an effort to fight off its old reputation. After the last quarter, CEO John Riccitiello was quoted as saying, "You see a six-foot hole that we're in; I'm telling you that we were in a 20-foot hole and we've climbed 14 feet out of it."
Hopeful as we were, there was naturally some skepticism. In any case, Riccitiello appears to have known what he was talking about, as the Q4 fiscal year 2010 (ending March 31) numbers are in, and pretty much everything is up over last time, some items hugely so. Here's the summary for this quarter as compared to last:
GAAP net revenue $979 million, up $119mNon-GAAP net revenue $850m, up $241m
GAAP net income $30m, versus $42m loss
Non-GAAP net income $23m, versus $120m loss
And the full year:
GAAP net revenue $3.7 billion, down from $4.2bn$766m in deferred net revenue, up $505m
Non-GAAP net revenue $4.2bn, up 2%
GAAP net loss $677m, versus $1.1bn ($140m restructuring costs noted)
Non-GAAP net income $145m, versus $96m net loss
Cash flow $152m versus $12m
Year ended with cash and short-term investments of $1.7bn
In terms of games specifically, it's noted sales of FIFA 10, Madden NFL 10, The Sims 3, Battlefield: Bad Company 2, and Need for Speed Shift drove much of the revenue, each exceeding four million sales. DICE's excellent Bad Company 2 exceeded five million -- last we checked in (when sales were at 2.3m), the leading platform for that one was the PC. Who says PC gaming is dead? Silly people, that's who.
Naturally EA is increasing its expectations for the year to come, so perhaps we won't see those "high risk" titles get axed after all.
Source:EA Investor Relations
Alternate Source:BusinessWeek
Sections:Console Games, PC Games, Sony Consoles, Nintendo Consoles, Handheld Games
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