Electronic Arts Posts Jump In Digital Revenue—But Overall Sales Fall
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With sales of traditional video games down, Electronic Arts (NSDQ: ERTS) continues to look (so far unsuccessfully) for its digital business to make up the gap. The video game giant said that its digital revenue reached an all-time high of $152 million during its third fiscal quarter, up 30 percent compared to the same period a year ago; mobile revenue was up 14 percent year-over-year to $57 million.
SEE ALSO: EA’s Stock Dives On Lowered Holiday Sales Guidance
That growth, however, was unable to compensate for declining sales of the company’s traditional video games. Overall sales dropped 25 percent to $1.243 billion, while the company posted a loss per share of 25 cents. Both figures were slightly above analyst expectations, although those had been dropped after the company slashed its guidance last month, citing weakness in Europe. (The company did, however, manage to cut its net losses to $82 million from $641 million during the same period a year ago).
Unnerving for Wall Street apparently was the company’s outlook, which was below expectations (via Barrons). The company’s stock is down more than 7 percent in after-hours trading.
| EPS* | Rev. vs Q0308 | Net Inc. vs Q0308 | ||
|---|---|---|---|---|
| Electronic Arts | Release |
|
25%
|
87%
|
Beat
Met
Missed
Posted In: Money, Earnings, Companies, Electronic Arts, EAMobile
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