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EA Posts Loss, Beats Guidance

Madden NFL and FIFA 08 weren't enough to keep Electronic Arts from posting lower sales and a net loss for its fiscal second quarter, but the firm still beat guidance.

The Redwood City, Calif.-based megapubisher reported revenues of $640 million, down 18 percent year-on-year for the quarter ended September 30. Guidance was set to be between $465 and $570 million. Net loss for the quarter amounted to $195 million versus net income of $22 million a year ago. Loss per share was 62 cents, which likewise beat Q2 guidance.

EA said that August's Madden NFL 08 was the prime seller for the quarter with 4.5 million units sold. FIFA 08 sold 2.9 million copies worldwide. The new MySims for Wii and DS sold over 1 million copies, according to the company.

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next-gen.biz
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ruibing3462d ago

Instead of continuing old sports franchises with annual releases that might as well be a big patch, they need to pursue new IPs. And instead of blaming platforms for not generating enough sales, they need to blame themselves. The money in the gaming industry is out there, they just need something that can attract (vs repel) it to them with solid, quality titles (and I mean that in every sense of the word "quality"). Army of Two is a good direction, seeing how much people like co-op these days. Dark Void has to do something special for it to do well, I hope its not System Shock meets Bioshock.

RunamukK3461d ago

I hope they continue to post losses until they can produce some decent games. Screw EA. Buncha lazy [email protected]