Phil Elliott
21:59 (BST)
13/05/2008
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EA's Q4 revenues up, but losses widen
Publishing giant Electronic Arts has posted its financial results for the fiscal year ending March 31, with the company showing a net loss of USD 454 million despite revenues going up year-on year.
Total revenue stood at USD 3.67 billion, up 19 per cent on the previous year, while Q4 revenue saw a leap of 81 per cent to USD 1.13 billion.
But the loss of USD 454 million compared to a profit of USD 76 million the previous year, a set of results that CEO John Riccitiello classified as not yet good enough.
"A year ago, we committed to an aggressive change agenda at EA," he said. "Our employees stepped up to the challenge and we finished fiscal year 2008 with non-GAAP revenue up 30 per cent to USD 4 billion - a record for any third-party publisher. Our operating margins were flat to our prior year.
"On balance, we're very pleased with our revenue growth, but not yet happy with our profit margins. In fiscal 2009, we expect to deliver another USD 1 billion in revenue growth and to double our operating profit on the strength of our slate of titles."
Specifically net revenue for the company for fiscal 2009 is expected to hit between USD 4.9 billion and USD 5.15 billion, with diluted earnings per share somewhere between 25 cents and 52 cents.
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