EA predicts increased full-year earnings
On Thursday, EA reported earnings for the company’s fiscal Q1, showing decreases in both profit and revenue as compared to the previous year. The company’s net revenue was $693 million this quarter, an $82 million downturn from last year. Interestingly, however, this deficit was expected.EA had projected $640 million for the quarter, so they actually came out $53 million ahead of projections. Profit went from $61 million last year to $49 million this year for Q1. Andrew Wilson, CEO of EA, said this is a “great start” for the fiscal year.
On Thursday, EA reported earnings for the company’s fiscal Q1, showing decreases in both profit and revenue as compared to the previous year. The company’s net revenue was $693 million this quarter, an $82 million downturn from last year. Interestingly, however, this deficit was expected.
EA had projected $640 million for the quarter, so they actually came out $53 million ahead of projections. Profit went from $61 million last year to $49 million this year for Q1. Andrew Wilson, CEO of EA, said this is a “great start” for the fiscal year.
Wilson noted, “We have players engaging for longer period in our live services, ongoing strength across our digital business, and growing anticipation for our upcoming titles.” EA released an infographic displaying their impressive numbers for the quarter here. They showed Battlefield 4 and Battlefield Hardline numbers with a combined 170 million online gameplay hours in Q1. They also pointed to their mobile games, which boasted more than 150 million monthly active users. And finally, over 16 million FIFA 15 matches were played per day.
EA also explained that they are increasing their full-year sales projections “to reflect the momentum across our portfolio.” They are expecting net revenue to hit $4.45 billion for the full-year, up $200 million from previous projections. EA also expects diluted earnings per share to reach $2.85, up from a previous $2.75 estimate.