Tuesday, July 26, 2011

Electronic Arts Inc. (NASDAQ: ERTS): Q1 2012 Earnings Roundup

Electronic Arts Inc. (NASDAQ: ERTS) said Tuesday that its fiscal first-quarter profit rose to $221 million, or 66 cents a share, from $96 million, or 29 cents a share, in the year-earlier period. On an adjusted basis, the company posted a loss of 37 cents a share on sales of $524 million.Revenue climbed to $999 million from $815 million.

"This was another solid quarter driven by both digital and packaged goods," said John Riccitiello, Chief Executive Officer. "We saw strong digital revenue growth over the prior year. On packaged goods, NCAA is off to a great start and pre-orders for Battlefield 3 are tracking extremely well."

Looking ahead to fiscal second-quarter, EA said it expects to lose between 3 cents and 13 cents a share, excluding one-time items, on revenue in a range of $925 million to $975 million.

"EA is well positioned for the year ahead and reaffirms its fiscal 2012 non-GAAP EPS guidance," said Eric Brown, Chief Financial Officer. "And we are increasing non-GAAP digital revenue guidance to a range of $1.100 billion to $1.150 billion for fiscal 2012." 

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