Electronic Arts Made Some Money
The next float in the “End of Financial Quarter Parade” is Electronic Arts, boasting a fantastic return to profitability following years of net loss. In doing so, the company beat analyst expectations and enjoyed a healthy stock price surge. And now, numbers.
EA posted a net income for Q1 2010 of $96m, which is a damn sight better than the $234m loss incurred in Q1 2009. Net revenue also rose from $644m to $815m, a 27% increase over last year’s period.
This sent EA shares up $.78 to $19.96, though the stock settled back down some to $16.18 later on. EA’s only major releases in the quarter were Skate 3 and 2010 FIFA World Cup South Africa, so as it turns out this soccer thing is kind of popular. We’re on the cusp of Madden NFL 11′s release too, so Q2 should be nice and comfy.
[via Associated Press]