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October 31, 2012

Electronic Arts’ Q2 revenue declines

Electronic Arts’ loss widened further to $381m during the quarter, compared with $340m last year

By CBR Staff Writer

Video game publisher Electronic Arts has reported decline in its revenue to $711m, during the second quarter ended 30 September, compared with $715m it reported during the corresponding quarter a year earlier.

Company’s non-GAAP net revenue during the quarter however grew to $1.08bn from $1.03bn it reported during the previous quarter.

The company said its Non-GAAP net revenue in second-quarter increased due to strong performance in digital net revenue in the quarter.

Electronic Arts’ loss on the other hand widened further to $381m during the quarter, compared with $340m it reported during the corresponding quarter last year.

The company is expecting GAAP revenue of approximately $0.9bn to $1bn during the third quarter while it is expecting Non-GAAP net revenue of about $1.25bn to $1.35bn.

For the fiscal 2013, ending 31 March 2013, the company expects to record a GAAP net revenue of approximately $3.85bn to $4bn while it is anticipating a Non-GAAP revenue of approximately $4.05bn to $4.2bn.

The US based company had recently launched its racing game, "Need for Speed: Most Wanted".

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Electronic Arts chief financial officer Blake Jorgensen said the company’s performance was backed by great performances of its EA SPORTS titles.

"We are forecasting annual non-GAAP EPS growth of at least 25% at the midpoint of our guidance, and Operating Cash Flow of over $400 million," Jorgensen said.

Electronic Arts president Frank Gibeau said record numbers of players have engaged in the online features and content downloads for FIFA 13, Madden NFL 13, and Battlefield.

"On the strength of our digital extensions, FIFA and Battlefield are the two biggest revenue events in our company’s history. Both are well on their way to becoming billion dollar annual franchises," Gibeau said.

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