Electronic Arts Reports $234 Million First Quarter Loss
Electronic Arts announced preliminary financial results for its fiscal first quarter ended June 30, 2009:
For the quarter, EA reported a net loss of $234 million, compared to a net loss of $95 million in the same quarter the previous year. EA sensibly spun the results as better than expected, emphasizing tremendous sales of The Sims 3, but the question still remains whether EA's cost-cutting measures (that contributed to the large net loss) will produce a positive result for the company in the near future.
By platform, the PC is the greatest contributor to EA's revenues, providing 31% of net revenues (keep in mind that includes casual gaming and massively multiplayer online game subscriptions). Of the consoles, the Wii is the biggest contributor, providing 23% of revenues followed by the Xbox 360 at 17% and the PlayStation 3 at 12%.
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