EA Reports Q1 Financial Results, Net Income Doubles Year-Over-Year

By Colin Tan on July 27, 2011, 2:54AM EDT

EA have released their financial reports for the first quarter of fiscal year 2012, reporting a total net revenue of $999 million, an increase over last year's $815 million. Digital revenue generated $232 million, up from $176 million year-over-year, while packaged goods came to $647 million, up from $586 million. EA also reports a net income of $221 million, more than double the previous year's $96 million.

According to the report, FIFA 11 has sold nearly 15 million units while Battlefield: Bad Company 2 has sold over nine million units, including sales from digital and mobile downloads, "demonstrating strong cross-platform results."

"This was another solid quarter driven by both digital and packaged goods," said John Riccitiello, Chief Executive Officer. "We saw strong digital revenue growth over the prior year. On packaged goods, NCAA is off to a great start and pre-orders for Battlefield 3 are tracking extremely well."

"EA is well positioned for the year ahead and reaffirms its fiscal 2012 non-GAAP EPS guidance," said Eric Brown, Chief Financial Officer. "And we are increasing non-GAAP digital revenue guidance to a range of $1.100 billion to $1.150 billion for fiscal 2012."

As for the coming quarter, EA is expecting net revenue to be anywhere between $675 to $725 million. Net revenue for fiscal year 2012 ending March 31, 2012 is expected to land approximately between $3.825 billion to $4.025 billion, up from their previous forecast of $3.725 billion to $3.950 billion.

Key titles scheduled for release in FY2012 include big hitters like Battlefield 3, Mass Effect 3, and FIFA 12, as well as other titles like Need For Speed: The Run and SSX. Star Wars: The Old Republic was left out of the list, but EA confirms that it is still on track for a 2011 holiday release.

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