EA report a $308 million loss in its third quarter

Electronic Arts have reported the results for their third quarter, which saw them report a $308 million loss.

Electronic Arts have released the financial results for their third quarter.

The company, publishers of such games as Fifa, Madden NFL & Battlefield, reported a $308 million loss for the quarter, compared to its $45 million loss last year in the same quarter. Revenue also fell from $112 million to $808 million.

Whilst packaged goods revenue also fell from $568 million to $370 million, the company’s digital revenue did climb, rising from $321 million last year to $410 million this year. The company’s net income also grew from $176 million to $398 million.

EA also announced that they were the number one publisher for next-generation consoles with Fifa 14 and Battlefield 4 two of three best-selling games.

“EA’s third quarter marked an exciting start to a new generation of games, and we are proud to have been the #1 publisher on next-generation consoles in December, with millions of gamers across the globe playing EA titles on the PlayStation 4 and Xbox One,” said Chief Executive Officer Andrew Wilson.

“In addition to consoles, our mobile games, digital downloads and live services are growing year-over-year as we continue to deliver exciting new experiences to gamers around the world.

Chief Financial Officer, Blake Jorgensen, also commented: “In a transitional quarter, EA delivered EPS results above our guidance driven by strong sales of our next-generation console titles, continued growth in our digital games and services, and financial discipline across the business.

“For our full year outlook, we are lowering our non-GAAP net revenue guidance to $3.91 billion due to the weakness in current generation software, but we are increasing our non-GAAP EPS guidance to $1.30 due to the improvement in our operating profits.”

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