Electronic Arts latest earnings were slightly lower-than expected, with the company reporting $1.04 billion in net revenue and an earnings per share of $0.55 for its fourth fiscal quarter and fiscal year ended March 31, 2013. Despite an improvement over last year's $977 million, the publisher/developer is undergoing a major overhaul as it shifts its priorities toward mobile devices and new technologies.
As a result, EA was the number one publisher in Western retail markets in the March quarter, and the number one global publisher in the iOS game market for FY 2013. Additionally, The Simpsons: Tapped Out was a top-5 grossing iOS game in the march quarter, generating almost $10 million in digital net revenue for the month and $50 since its launch in August. Real Racing 3, meanwhile, was the number one racing title on iOS, generating more than 30 million downloads and 2.5 million daily active users.
"As we enter a new fiscal year, EA is well-positioned for dynamic growth on next generation consoles, PCs, and mobile platforms," said Executive Chairman Larry Probst. "With world-class games, a rapidly growing digital business, and top-notch creative talent, we are excited about EA's strategy for FY 2014 and beyond."
Looking ahead, EA expects GAAP net revenue to be approximately $875 million, while Non-GAAP net revenue will be approximately $450 million for the quarter ending June 30. For the Fiscal Year 2014, GAAP net revenue is expected to be approximately $3.50 billion, with Non-GAAP net revenue expected to reach approximately $4.00 billion.
So what does this mean exactly? Probably that EA's recently acquired license to develop and publish games based on the Star Wars franchise better be taken advantage of. Of course, they still have their traditional sports — Madden, NCAA, and FIFA — as well as Battlefield 4 which is set to release later this year.
