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EA Posts Excellent Fiscal Q2; Q3 Will Likely Break Records

Electronic Arts announced financial results for fiscal Q2, which ended September 30, posting solid revenue and profits.
Net revenues for the quarter hit $453 million, up a whopping 89% over last year. For the quarter, net income reached $50 million (34 cents per share), compared to a $33 million loss last year. The company credited the strong sales of Madden NFL 2003, NCAA Football 2003, Medal of Honor Frontline and its stable of Sims titles. Larry Probst, Chairman and CEO of EA said that the coming holiday quarter "will be the biggest in EA's history" -- and that's probably not hyperbole, either. The company expects to release over 35 new titles in 75 countries in 20 languages, including such highly anticipated titles as Harry Potter and the Chamber of Secrets; The Lord of the Rings, The Two Towers; James Bond 007: NightFire; Need for Speed Hot Pursuit 2; FIFA Soccer 2003; NBA Live 2003; and The Sims Online. EA.com, the one constantly struggling unit of the company, contintued to try to right itself, and showed improvement. The unit's revenues increased 23 percent to $19 million while operating loss shrank by 37 percent, to $23 million.

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