Earnings: EA's Losses Continue To Mount
This story was written by Tameka Kee.
Holiday sales weren't enough to stop the losses at Electronic Arts, as the gaming giant posted a $641 million loss for Q4 (its fiscal Q3), or $2 per shareup from a $33 million loss the previous year.
Revenues meet analysts expectations : Net revenue came in at $1.65 billionup 10 percent from $1.5 billion in Q407; beating the consensus that EA would only post flat to 5-percent growth for the quarter. Non-GAAP revenues were relatively flat thoughup less than one percent to $1.74 billion, from $1.73 billion in Q407. Updates to long-standing franchises, including Madden and Need for Speed drove the bulk of the sales, as well as Rock Band 2, which launched in September.
More to come.
Photo Credit: bigpatrick_de
By Tameka Kee