EA posts $381 million net loss for Q2 2012, but sees strong digital growth
Electronic Arts's Q2 financial results are in, and while things aren't perfect, it seems as though everything is going better than expected.
"EA is performing well, once again beating street consensus in fiscal Q2," said CEO John Riccitello, "We delivered another quarter of sharp digital growth, with digital revenue up 40% compared to the same period last year, reflecting our strength across multiple brands and channels."
CFO Blake Jorgensen had a bit to say about the second quarter of 2012, as well.
"We delivered a very strong performance in the second quarter, backed by great performances from our EA SPORTS titles," stated Jorgensen. "We are forecasting annual non-GAAP EPS growth of at least 25% at the midpoint of our guidance, and Operating Cash Flow of over $400 million."
In other words, things are going very, very well for the organization in the digital arena, with record number of players engaging in the online features and content downloads of their most recent EA SPORTS entries, as well as Battlefield.
Everything wasn't all sunshine, however. EA also experienced a net loss of $381 million ($41 million more than the same quarter a year ago). That aside, however, things aren't looking too bad for the organization–at least, to hear them tell it.
We'll see how things go in Q3 and Q4.
Source: Press Release
A gamer at heart, Nick started writing when he was a child. He holds a BA in English, works as a freelancer, and loves every minute of it. One day, he hopes to net himself a career in game design - but that's something for the future.
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