EA reports profits: thank god for football (American or otherwise) |
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Electronic Arts has recently announced its preliminary financial results for its fiscal third quarter ended December 31, 2006. Despite a lot of their holiday games not being welcomed that well by the critics, their profits hint at a brighter future for the companyIGN reports that Net revenue for the third quarter was US$ 1.281 billion. This is one percent higher compared with the prior year's US$1.270 billion.
EA attributes this small jump in revenue to strong sales of their NFS Carbon (X360, PS3, and Wii), FIFA 07, The Sims 2 Pets, and Madden NFL 07 (Xbox 360 and PS3). The gross profit for this quarter was up six percent from last year's and EA ended the quarter with cash, short-term investments, and marketable securities equaling US$ 2.6 billion.
Larry Probst, CEO of EA, had this to say:
We are pleased with the performance of our products on next-generation consoles ...In the year ahead, we plan to build on our leadership position on both the Xbox 360 and the PlayStation 3, and to significantly increase our support for the Nintendo platforms.
Via IGN
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