Electronic Arts Posts Narrowed Losses In Fiscal 2nd Quarter
REDWOOD CITY (AP) – Video game publisher Electronic Arts says its fiscal second-quarter net loss narrowed, and its adjusted results handily surpassed expectations thanks to strong sales of the latest “FIFA” and “Madden” games.
For the three months ended Sept. 30, Electronic Arts Inc. posted a net loss of $201 million, or 61 cents per share.
This compares with a loss of $391 million, or $1.21 per share, the same time last year. Revenue fell 20 percent to $631 million.
On an adjusted basis, however, EA says it earned a profit of 10 cents per share. EA’s adjusted revenue was $884 million.
Analysts, on average, were expecting an adjusted loss of 10 cents per share on revenue of $815 million, according to Thomson Reuters.
EA also reaffirmed its guidance for fiscal 2011.