It would either be a trick or a treat Wednesday as Electronic Arts reported earnings. And, for investors, the results appear to be mostly a treat as Electronic Arts announced preliminary financial results for its second fiscal quarter that ended September 30, 2012.
“EA said it expected to post a third-quarter profit of 50 cents per share to 60 cents per share after adjustments,” the WSJ summarized, “and revenue of between $1.25 billion and $1.35 billion. Analysts surveyed by Thomson Reuters had been expecting the company to post a profit of 71 cents per share on $1.38 billion in sales.”
Among the highlights of the quarter are:
- Trailing Twelve Month Non-GAAP Digital Net Revenue a Record $1.4 Billion
- FIFA 13 Sold Through 7.4 Million Units in Its First Four Weeks
- Battlefield 3 Premium Has Sold Over 2 Million Subscriptions
- The Simpsons: Tapped Out Top Grossing iOS Game in October
- Need For Speed Most Wanted Launches with Strong Reviews
Looking toward 2013, the company expects the year to feature a “sharp” increase in earnings per share.
“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% compared to the same period last year, reflecting our strength across multiple brands and channels.”
For the quarter, non-GAAP net revenue of $1,080 million was in line with our guidance of $1,050 million to $1,100 million. Non-GAAP diluted earnings per share of $0.15 was above our guidance of $0.07 to $0.12. Non-GAAP net revenue in Q2 fiscal 2013 was higher compared to Q2 fiscal 2012 due to our strong performance in digital net revenue in the quarter.
To read the earnings report in full, click here.
