Legal Niches

EA Beats Estimates But Posts Massive Q3 Loss

By james_fudge

EA this week announced financial results for the third quarter that ended on December 31, 2010. While its numbers beat expectations, the company still posted a massive loss of $322 million for the quarter, compared to a loss of $82 million in the same period in 2009.

One positive note for EA is that digital sales, a new frontier for many traditional game publishers, totaled $211 million, compared to $152 million in 2009. Packaged goods also saw healthy gains, raking in $1.1 billion, compared to $929 million in 2009. Revenue from distribution was down to $91 million from $265 million in 2009.

Total sales were down to $1.05 billion from $1.24 billion in Q3 2009.

During its conference call to discuss results, EA's board announced the authorization to repurchase up to $600 million of Electronic Arts' outstanding stock over the next eighteen months. Read More

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Full post as published by GamePolitics.com on February 02, 2011 (boomark / email).