Home › content

Strong Game Sales Boost Electronic Arts' Revenue, Profits

Authored by Mark Hefflinger on July 23, 2004 - 4:42am.
Redwood City, Calif. -- After selling more than 1 million copies each of its games involving Harry Potter, professional boxing and European soccer, video game developer Electronic Arts on Thursday reported substantial increases in quarterly revenue and profits from a year ago. The company posted net income of $24 million, up 32%, on revenue of $432 million, up 22%. Earnings per share of $0.08 eclipsed consensus analyst estimates of $0.05, according to a survey by Thomson First Call. EA said that it got a large boost with" Harry Potter and the Prisoner of Azkaban," "EA Sports Fight Night 2004" and "UEFA Euro 2004" each reaching platinum status. The trend seems to be continuing, with sales of the company's NCAA Football title tracking over 50% ahead of last year after its first week, and pre-orders of EA's Madden NFL game at record levels. However, the company's shares fell nearly 8% on Friday after posting a conservative outlook and predicting flat sales for the key holiday season.
http://makeashorterlink.com/?K11934ED8

tags: Games | Sales | Electronic Arts | Profits |



Comments

Post new comment

The content of this field is kept private and will not be shown publicly.