Mobile growth isn’t a game to Electronics Arts. In fact, the video gaming giant takes its work seriously… and the results reflect the effort.
Electronic Arts can now brag about double-digit mobile gaming growth in the company’s fiscal first quarter. The growth comes even amidst general earnings declines.
For the quarter ending June 30, EA posted revenues of $491 million, down from $524 million a year ago.
“EA delivered a solid performance in our first fiscal ’13 period, hitting EPS guidance for the quarter,” says EA CEO John Riccitiello. “The EPS loss of $0.41 was at the high end of our guidance and ahead of the street. The quarter was marked by a series of puts and takes that reflected the strength and diversity of our business across multiple brands, channels, business models, and geographies.”
In the first quarter, 66% of our revenue was generated by online gaming services, and finally a sector level slowdown in social network games was more than offset by share gains for EA and we also saw double digit growth in mobile driven by games on smartphones and tablets.
$52 million of EA’s quarterly revenue comes from smartphone and tablet gaming, which represents an 86 percent increase year-over-year.
EA’s overall performance was in line with the guidance provided on the company’s last earnings call.
“Within EA we have the talent to continue to drive both the art of content creation and the science of successful monetization,” Riccitiello says. “We have a rapidly growing audience and 0.25 billion users and we are building a technology platform to recognize each player with a unique ID and to service them across multiple devices. This has changed our relationship with the consumer from short intermittent transactions to an ongoing connection that can last months, and we believe for years.”