Electronic Arts 2Q loss expands
While Electronic Arts 2nd Qtr losses expand, I highly doubt their latest Qtr will. Sales of Battlefield 3 are above expectation and will more than likely boost the companies revenue quite well. Face it: a DirectX 10/11 game that also supports 64bit version of Windows 7 will do quite well on the market. I’m pretty sure EA will have a very happy holiday this year.
Adjusted revenue, which accounts for deferred revenue from games with online components, rose 17 percent to $1.03 billion from $884 million, helped by sales of its sports games “FIFA 12″ and “Madden NFL 12.” That also beat the $955 million expected by analysts.
“Our results reflected a tremendous performance by our EA Sports titles and a strong showing on a new game on the Facebook platform, `The Sims Social,’” Riccitiello said on a conference call with analysts. “We’re now focused on our biggest title for the holiday.”
The company said it expects adjusted revenue in the current quarter through December of $1.55 billion to $1.65 billion, with the midpoint slightly higher than the $1.59 billion expected by analysts.