Electronic Arts Announced Quarterly Results Share on Facebook Share on Twitter Update ID

EA has announced their quarterly performance results for the period that ended on June 30, 2005. They earned $365 million, which was a 16% decline over last year at this time. This resulted in a $58 million loss compared to a $24 million profit. The loss was attributed to a repurchase of 6.3 million shares of outstanding EA stock and development of titles for next-generation platforms that don't yet generate any income. Research & development costs were more than $50 million higher this quarter than in the same period last year. The company still maintains more than $2.5 billion in cash, liquid assets and short term investments to fuel future ventures.

There were several other recent highlights. Battlefield 2 for the PC reached its first million sales in just two weeks, which helped PC games account for 20% of the company's total quarterly income. More than a quarter of all PSP games sold in North America have been developed by Electronic Arts. Handheld game revenues make up 14% of EA's mix. The Fiscal 2006 outlook predicts between $3.3 and $3.4 billion in total revenue for the year.

The company also announced the acquisition of Hypnotix this morning. The development studio, known for the Outlaw Golf/Tennis/Volleyball series of extreme sports games, will be moved to Florida near Madden-developer Tiburon. Hypnotix's first EA game will be the new Arena Football League title. Their annual stockholders meeting will also be webcast tomorrow:

Thursday, July 28, 2005
2:00 pm PDT / 5:00 pm EDT
http://investor.ea.com

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