EA beats fiscal Q2 estimates, mobile gaming revenues rise to $55M
Gaming giant Electronic Arts reported fiscal second quarter losses of $340 million, up from year-ago losses of $201 million. Revenues reached $715 million, or $1.03 billion on an adjusted basis, compared with fiscal second quarter 2010 revenues of $631 million, or $884 million adjusted. Analysts polled by Thomson Reuters projected adjusted revenues of $964.78 million.
EA's mobile and handheld digital revenues increased to $55 million, up 8 percent over a year ago. Smartphones continue to drive the publisher's digital growth: Smartphone-related non-GAAP revenue increased 87 percent over fiscal second quarter 2010, buoyed by new titles including FIFA 12, Madden NFL 12 and Battlefield 3. Including digital and mobile downloads, EA's FIFA 11 has now sold more than 16 million units.
In mid-July, EA agreed to acquire mobile gaming company PopCap Games for around $650 million in cash and $100 million in shares. EA adds the deal is now complete, with PopCap's Plants vs. Zombies now available on its EA Pogo site and Bejeweled 3 launching across Xbox Live Arcade and coming soon to PlayStation Network and Nintendo DS.
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