14 DAY TRIAL // Publisher Electronic Arts has announced that it has made a profit of about 96 million dollars during the first fiscal quarter of the current year, showing a clear improvement over the same period of last year when the company stunned video game industry watcher with a loss of no less than 234 million dollars. The profit seems to be based in healthy development as Electronic Arts also announced that net revenue for the quarter has reached 815 million dollars, which is about 27 percent more than the sum posted for the same period in 2009.
Eric Brown, who is the Chief Financial Officer of Electronic Arts, stated that “EA is well-positioned for the year ahead and reaffirms its FY11 non-GAAP guidance.” The biggest selling titles for the period were FIFA 10 and the FIFA simulation of the World Cup in South Africa, Battlefield: Bad Company 2 from DICE and the version of Scrabble the company has released for the iPad from Apple.
Electronic Arts is saying that it's titles have a 22% market share on high definition gaming consoles, which is 4 points more than at the same time last year, while on the PC is has more than one third of the market, with both retail sales and digital distribution growing during the period. This all comes as Electronic Arts launched just six titles during the first fiscal quarter, down over 2009.
For the entire fiscal year the company is still expecting to see a loss on revenue that should come in somewhere between 3.35 and 3.60 billion dollars. A lot of its financial performance depends on how the new Medal of Honor first person shooter will perform. The game brings the franchise to present day Afghanistan and Electronic Arts hopes that its popularity will grow to rival that of the Call of Duty franchise from rival publisher Activison.