Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its first fiscal quarter ended June 30, 2013.
“EA had a solid quarter driven by continued digital growth and disciplined cost management,” said Executive Chairman Larry Probst. “We are also executing on a clear set of goals for leadership on mobile, PC, current and next generation consoles.”
“EA delivered first quarter EPS above our guidance through a combination of revenue growth, phasing of expenses, and cost control,” said Chief Financial Officer Blake Jorgensen. “We are reaffirming our annual non-GAAP guidance of $4 billion net revenue and $1.20 earnings per share.”
This release, along with ongoing updates regarding EA’s business, is available on EA’s blog at http://ea.com/news.Selected Operating Highlights and Metrics: *On a non-GAAP basis
- EA was the #1 publisher in Western retail markets in calendar year 2013, and the #1 global publisher in the iOS game market in the June quarter.
- EA received 116 E3 awards from over 220 industry nominations, including 8 out of 15 awards from the official E3 Game Critics. Battlefield 4™ won a total of 21 awards at E3, including GameSpot’s Best of E3 award , Need for Speed™ Rivals was named Best Racing Game, and NHL® 14 took the honors for Best Sports Game. Titanfall™ from Respawn Entertainment won six major awards, including Best of Show, Best Original Game, Best Console Game, Best PC Game, Best Action Game and Best Online Multiplayer.
- The Simpsons™: Tapped Out recorded its highest revenue quarter* in Q1 since launching in August 2012.
- EA’s mobile and handheld digital revenue generated $103 million* in the quarter, a 30% year-over-year increase in digital net revenue.
- Real Racing™ 3, the #1 racing title on iOS, has generated more than 45 million downloads, and has averaged over 2 million daily active users since launching in March.
- The Battlefield 3™ Premium community continues to grow with over 4 million members to date.
- FIFA 13 digital net revenue topped $70 million* in the quarter, a 92% increase versus FIFA 12 in Q1 FY 2013.
- FIFA Online 3 digital net revenue in grew 88%* in the first quarter compared FIFA Online 2 in the prior year, and was the #1 online sports game in Korea based on revenue and traffic.
- EA signs publishing agreement with TenCent for FIFA Online 3 in China, with details to be announced in an upcoming joint press release from EA and TenCent.
- EA’s Origin™ platform for downloading digital games has registered over 50 million users, including 22 million mobile users.
- Trailing twelve-month non-GAAP digital net revenue was up 28% to a record $1.72 billion*.
|(in millions of $, except per share amounts)||QuarterEnded6/30/13||QuarterEnded6/30/12|
|GAAP Digital Net Revenue||$||482||$||342|
|GAAP Publishing Packaged Goods and Other Net Revenue||452||592|
|GAAP Distribution Packaged Goods Net Revenue||15||21|
|GAAP Total Net Revenue||$||949||$||955|
|Non-GAAP Digital Net Revenue||$||378||$||324|
|Non-GAAP Publishing Packaged Goods and Other Net Revenue||102||146|
|Non-GAAP Distribution Packaged Goods Net Revenue||15||21|
|Non-GAAP Total Net Revenue||$||495||$||491|
|GAAP Net Income||$||222||$||201|
|Non-GAAP Net Loss||(121||)||(130||)|
|GAAP Diluted Earnings Per Share||0.71||0.63|
|Non-GAAP Diluted Loss Per Share||(0.40||)||(0.41||)|
|Cash Used in Operations||($248||)||($244||)|
|Trailing Twelve Month (TTM) Financial Highlights:|
|(in millions of $)||TTMEnded6/30/13||TTMEnded6/30/12|
|GAAP Net Revenue||$3,791||$4,099|
|GAAP Net Income||119||56|
|Non-GAAP Net Revenue||3,797||4,153|
|Non-GAAP Net Income||273||277|
|Cash Provided by Operations||$320||$307|
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