Electronic Arts reports $711 million in revenue for its Q2 2013, net loss of $381 million
Electronic Arts today reported $711 million in revenue for its second fiscal quarter 2013, up 40 percent year-over-year. On a non-GAAP basis (generally accepted accounting principles) EA saw sales of $1.08 billion — in line with the company’s guidance of $1.05 billion to $1.1 billion. The company’s Non-GAAP diluted earnings per share (EPS) of $0.15 was above its guidance of $0.07 to $0.12. GAAP loss per share was $(1.21).
GAAP net loss for the quarter was $(381) million, up from $(340) million in Q2 2012.
Wall Street predicted Electronic Arts’s revenues would grow 4.4 percent and earnings per share would grow 100 percent. The average estimate for revenue was $1.08 billion. The average EPS estimate was $0.10.
On a non-GAAP basis, EA’s smartphone and tablet revenue increased by 128 percent year-over-year to $66 million. As expected, the company’s feature phone revenue dropped by 12 percent. Overall, EA’s digital revenue for Q2 amounted to $314 million.
GAAP mobile net revenue for the quarter was $75 million. EA also reported that it currently has 42 million monthly active users across its catalogue of social games.
EA highlighted its success on mobile with the iOS game The Simpsons: Tapped Out, a top grossing iOS game for the last four weeks and the No. 1 app in 54 countries. The game also recently hit a record-high of 2.8 million active users.
“EA is performing well, once again beating street consensus in fiscal Q2,” said Chief Executive Officer John Riccitiello. “We delivered yet another quarter of sharp digital growth, with digital revenue up 40 percent compared to the same period last year, reflecting our strength across multiple brands and channels.”