SAN FRANCISCO – Video game publisher Electronic Arts Inc (EA.O) reported better-than-expected revenue and profit for the first quarter, driven by robust sales of titles such as “Titanfall,” digital revenue and cost control.
Games such as “Ultimate Fighting Championship,” soccer title “FIFA” and shooter game “Titanfall” were strong revenue drivers, Jorgensen said. For the three months ended June 30, non-GAAP revenue rose about 57 percent to $775 million from a year ago, exceeding Wall Street analysts’ estimates of $713.2 million, according to Thomson-Reuters I/B/E/S.
Non-GAAP net income rose to $61 million, or 19 cents per share, from a loss of $121 million, or 40 cents per share, a year ago. This also surpassed analysts’ expectations of a net loss of 4 cents per share.
Electronic Arts shares were relatively unchanged after closing at $38.42 on the Nasdaq on Tuesday. [eap_ad_2] BATTLEFIELD DELAY
The launch of “Battlefield: Hardline” was previously planned for this year’s holiday shopping period. It has been delayed to incorporate new features based on player feedback on its test version, executives told analysts on an earnings call.
The company also said the release of role-playing game “Dragon Age: Inquisition” has been moved forward six weeks to Nov. 18 in North America. The company reaffirmed its previous forecast of non-GAAP revenue of $4.1 billion and earnings per share of $1.85 in the fiscal year ending March 2015.
Video game industry software sales, which lagged in April and June, are seeing a boost as games for the Xbox One and PlayStation 4 devices, which were launched last holiday, gain steam. But sales of titles for older consoles, which have a larger install base, continue to slip.
“We’re right now at that place we’re still seeing headwinds,” Jorgensen said.
Electronic Arts’ shares have soared about 30 percent since it launched its Xbox exclusive sci-fi shooter game “Titanfall” on March 11.