Electronic Arts Reports Larger Net Losses for the Fourth Quarter and Fiscal Year

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Electronic Arts announced its financial results for its fiscal fourth quarter and fiscal year ended March 31, 2008.
During the fourth quarter, EA reported a net loss of $94 million, compared to a net loss of $25 million in the same quarter the previous year. For the full year, EA reported a net loss of $454 million compared to net income in the previous year of $76 million.

Part of the problem is that EA recently changed the way it recognizes revenue from certain online subscription games, so EA ended the year with $387 million in deferred net revenue, making its results look worse compared to the previous year. Partially offsetting that is the continued growth of EA's casual game portal Pogo. It brought in more than $400 million in revenues, 41% more than last year.

EA pointed out that it released 27 titles during the fiscal year that sold more than one million copies, compared with 24 titles in the previous year. EA had 15 games that sold more than two million copies, compared with 10 last year. The company credited Rock Band, Army of Two and Burnout Paradise as being the games that contributed most to sales.

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