Electronic Arts post Q1 2014 financial report, things looking fairly solid for the game publishing giant
EA released its earnings report for Q1 of the fiscal year 2014 today, and the numbers are looking pretty good for the game publishing powerhouse. The company posted a total net revenue of $949 million, which was down about $6 million from the same quarter in 2012. EA said that their gross profit was up $5 million from the previous year at $755 million. Additionally, the company had total operating expenses of $522 million, which brought their net income to $222 million, up $1 million from Q1 of 2012.
"EA had a solid quarter driven by continued digital growth and disciplined cost management," said Executive Chairman Larry Probst. "We are also executing on a clear set of goals for leadership on mobile, PC, current and next generation consoles."
"EA delivered first quarter EPS above our guidance through a combination of revenue growth, phasing of expenses, and cost control," said Chief Financial Officer Blake Jorgensen. "We are reaffirming our annual non-GAAP guidance of $4 billion net revenue and $1.20 earnings per share."