EA's quarterly revenue falls, beats estimates

Reuters News
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Posted: Jul 26, 2011 4:29 PM

NEW YORK (Reuters) - Electronic Arts Inc, the video game maker behind "FIFA" and "Madden," reported a 3 percent decline in first-quarter adjusted revenue as customers bought fewer video games than a year earlier.

For the three months ended June 30, profit rose to $221 million, or 66 cents per share, the company said on Tuesday, compared with $96 million, or 29 cents per share, a year earlier.

Excluding deferred revenue, the company reported a loss of $123 million, or 37 cents per share, compared with a loss of $78 million, or 24 cents a share, a year earlier.

Analysts on average were expecting a loss of 39 cents a share, according to Thomson Reuters I/B/E/S.

Adjusted revenue fell 3 percent to $524 million, above the average analyst estimate of $511 million. The company did not release a World Cup-themed soccer game as it did in the same period a year earlier.

The company's digital revenue, which comes partly from games for smartphones and tablets, rose 11 percent to $209 million.

EA shares closed 1 percent lower at $23.81 on Tuesday.

(Reporting by Liana B. Baker)