EA Financial Results: 'A Clear Disappointment'
Due to poor holiday sales, the company has "significantly reduced" its outlook for the year, with EA CEO John Riccitiello labeling this "a clear disappointment."
The company's revenue in the third quarter grew by $10 million over that of last year, to $1.74 billion. However, it was hit by highers expenses and investment losses.
Sales were driven by FIFA 09, Rock Band 2, Need for Speed Undercover, Rock Band, Left 4 Dead, Dead Space, Madden NFL 09, Littlest Pet Shop, NBA Live 09 and Mirror's Edge, with Warhammer Online racking up approximately 300,000 subscribers.
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velvEtY
replyThis post makes no sense? They posted results of their thrid quarter of [b]2009[/b]??? Did you mean 2008?
Also, after saying it posted a loss of $641 million, the next paragraph says their revenue from the third quarter [b]grew[/b] $10 million from the previous year, to $1.74 billion. Does that mean they lost even more money last year? Either way, a $10 million increase doesn't seem like a disappointment to me, especially considering the economical climate.-
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Yes I know, but my points are still valid.
1. fiscal year is not calendar year, I know. However It couldn't possibly already be the third quarter of 2009 in Feb 2009, could it? Unless, like cars, they consider the actual year of 2008 to be 2009.
2. They have a net loss, even though they had huge revenue - understood. But it says they increased their revenue by $10 million. That still sounds good. What more could you expect? And... that makes it sound like they lost over half a billion dollars in the previous third quarter. That is insane. How do they survive with such net losses quarter after quarter?-
EA's fiscal year ends on March 31st, so their Q3 2009 ended on December 31st, 2008. April 1st, 2009 will be the start of their Q1 2010.
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