Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its second fiscal quarter ended September 30, 2013.
“EA’s strong second quarter was driven by great title launches, continued digital growth, and financial discipline,” said Chief Executive Officer Andrew Wilson. “While we have made good progress in the first half of the year, we remain focused on executing our FY14 plan and delivering a full slate of amazing games and services to players on current and next-generation consoles, mobile, and PC.”
“We exceeded our revenue and EPS guidance in the second quarter through a combination of delivering on revenue, and managing our costs,” said Chief Financial Officer Blake Jorgensen. “We are reaffirming our annual non-GAAP net revenue guidance of $4 billion, and raising our non-GAAP EPS guidance from $1.20 to $1.25 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 raised its fiscal year earnings per share guidance from $1.20 to $1.25 per share*.
- Trailing twelve-month non-GAAP digital net revenue was up 22% versus the prior year to a record $1.75 billion*.
- On a year-to-date basis, EA SPORTS™ NCAA® Football Ultimate Team, Madden NFL Ultimate Team, NHL® Hockey Ultimate Team, and FIFA Ultimate Team each grew year over year and drove digital net revenue* growth.
- EA’s mobile and handheld non-GAAP digital net revenue generated $105 million* in Q2 FY14, a 19% year-over-year increase over Q2 FY13.
- The Simpsons™: Tapped Out eclipsed $100 million* in life-to-date digital net revenue, and has been in the top 20 iPhone grossing games in the U.S. for all but 12 days, since launching in August 2012.
- Plants vs. Zombies™ 2 has been installed over 25 million times on iOS devices since launching in August 2013, more than the lifetime total of the original Plants vs. Zombies.
- Real Racing™ 3 continued its revenue growth* since launching in February 2013, has been downloaded over 70 million times, and is currently averaging 18 million monthly active users.
- FIFA digital net revenue generated over $145 million* in the first half of fiscal 14, an increase of over 25% compared to the first half of fiscal 13.
(in millions of $, except per share amounts)
|GAAP Digital Net Revenue||$||450||$||324|
|GAAP Publishing Packaged Goods and Other Net Revenue||223||365|
|GAAP Distribution Packaged Goods Net Revenue||22||22|
|GAAP Total Net Revenue||$||695||$||711|
|Non-GAAP Digital Net Revenue||$||348||$||314|
|Non-GAAP Publishing Packaged Goods and Other Net Revenue||670||744|
|Non-GAAP Distribution Packaged Goods Net Revenue||22||22|
|Non-GAAP Total Net Revenue||$||1,040||$||1,080|
|GAAP Net Loss||$||(273||)||$||(381||)|
|Non-GAAP Net Income||105||49|
|GAAP Loss Per Share||(0.89||)||(1.21||)|
|Non-GAAP Diluted Earnings Per Share||0.33||0.15|
|Cash Used in Operations||$||(6||)||$||(28||)|
(in millions of $)
|GAAP Net Revenue||$||3,775||$||4,095|
|GAAP Net Income||
|Non-GAAP Net Revenue||3,757||4,199|
|Non-GAAP Net Income||329||309|
|Cash Provided by Operations||$||342||$||490|