EA reports 'solid' fiscal first quarter with $495 in net revenue
Electronic Arts announced today a "solid" fiscal first quarter in which non-GAAP net revenue exceeded expectations. For the period ended June 30, 2013, EA reported $495 million in net revenue, $45 million more than the company's original expectations and $4 million more than the revenue earned during the same period last year.
"EA had a solid quarter driven by continued digital growth and disciplined cost management," said Executive Chairman Larry Probst. "We are also executing on a clear set of goals for leadership on mobile, PC, current and next generation consoles."
Looking ahead for fiscal year 2014, ending March 31, 2014, EA expects non-GAAP revenue to be "approxminately $4 billion." Several of the publisher's blockbuster titles -- including Battlefield 4, Madden NFL 25, and FIFA 14 -- are due out later this year.
"EA delivered first quarter EPS above our guidance through a combination of revenue growth, phasing of expenses, and cost control," added Chief Financial Officer Blake Jorgensen. "We are reaffirming our annual non-GAAP guidance of $4 billion net revenue and $1.20 earnings per share."