Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its second fiscal quarter ended September 30, 2012.
“EA is performing well, once again beating street consensus in fiscal Q2,” said Chief Executive Officer John Riccitiello. “We delivered yet another quarter of sharp digital growth, with digital revenue up 40% compared to the same period last year, reflecting our strength across multiple brands and channels.”
“We delivered a very strong performance in the second quarter, backed by great performances from our EA SPORTS titles,” said Chief Financial Officer Blake Jorgensen. “We are forecasting annual non-GAAP EPS growth of at least 25% at the midpoint of our guidance, and Operating Cash Flow of over $400 million.”
“Record numbers of players have engaged in the online features and content downloads for FIFA 13, Madden NFL 13, and Battlefield,” said EA President Frank Gibeau. “On the strength of our digital extensions, FIFA and Battlefield are the two biggest revenue events in our company’s history. Both are well on their way to becoming billion dollar annual franchises.”Selected Operating Highlights and Metrics: *On a non-GAAP basis
- Need for Speed™ Most Wanted launches this week with great reviews. IGN and Game Informer awarded Need for Speed a 9 out of 10.
- FIFA 13 and Madden NFL 13 debuted as the two top-selling titles in September in the Western World.
- EA was the #1 publisher in the Western World in calendar year 2012 to date, with five of the top seven titles.
- FIFA 13 sold through 7.4 million units, excluding mobile downloads, in its first four weeks to become the biggest sports launch of all-time.
- FIFA digital net revenue generated over $115 million* in the first half of fiscal 13, including FIFA Online 2 and FIFA World Class Soccer that together contributed over $50 million*.
- Madden NFL 13 launched to critical acclaim, logged record fan engagement with nearly 30% year over year increase in total online game sessions, and increased units sold through by 9% in fiscal Q2 as compared to Madden NFL 12.
- Battlefield 3™ Premium service has sold over 2 million subscriptions to date.
- Medal of Honor™ Warfighter topped the charts in the UK in its first week of sales.
- The Simpsons™: Tapped Out has been a top grossing iOS game for the past four weeks, was the #1 application in 54 countries, including the US, UK and Germany, and recently logged a record-high of 2.8 million daily active users.
- EA’s games and services for mobile have generated a 60% year-over-year increase in digital net revenue*.
- Catalog continues to outperform with Battlefield 3 and FIFA 12 together selling through nearly 4 million units in the first half of the fiscal year .
- Trailing twelve month non-GAAP digital net revenue was a record $1.44 billion.
- Trailing twelve month operating cash flow was $490 million, a $183 million improvement from the prior quarter.
- EA repurchased $108 million of shares in the second fiscal quarter pursuant to a $500 million Share Repurchase Program announced on July 31, 2012.
- EA’s Origin™ platform for downloading digital games and services has registered over 30 million users, including 13 million mobile users. Origin has signed agreements with 71 independent developers.
|(in millions of $ except per share amounts)||Quarter Ended9/30/12||Quarter Ended9/30/11|
|Digital Net Revenue||$324||$234|
|Publishing Packaged Goods and Other Net Revenue||365||450|
|Distribution Packaged Goods Net Revenue||22||31|
|GAAP Total Net Revenue||$711||$715|
|Non-GAAP Digital Net Revenue||$314||$216|
|Non-GAAP Publishing Packaged Goods and Other Net Revenue||744||787|
|Non-GAAP Distribution Packaged Goods Net Revenue||22||31|
|Non-GAAP Total Net Revenue||$1,080||$1,034|
|GAAP Net Loss||$(381)||$(340)|
|Non-GAAP Net Income||49||17|
|GAAP Loss Per Share||(1.21)||(1.03)|
|Non-GAAP Earnings Per Share||0.15||0.05|
|Cash Used in Operations||$(28)||$(211)|
|(in millions of $ except per share amounts)||TTM Ended9/30/12||TTM Ended9/30/11|
|GAAP Net Revenue||$4,095||$3,857|
|GAAP Net Income (Loss)||15||(290)|
|GAAP Diluted Earnings (Loss) Per Share||0.00||(0.89)|
|Non-GAAP Net Revenue||$4,199||$3,963|
|Non-GAAP Net Income||309||173|
|Non-GAAP Diluted Earnings Per Share||0.90||0.52|
|Cash Flow from Operations||$490||$117|
|(in millions)||Quarter Ended9/30/12||Quarter Ended9/30/11|
|GAAP Mobile Net Revenue Non-GAAP Mobile Net Revenue||$75 $88||$55 $55|
|Monthly Active Users (MAU) in Social Games||42||101|
|Core Registered Users||250||140|
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV