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."
EA went on to post an extensive list of their highlights and metrics from Q1:
- EA was the #1 publisher in Western retail markets in calendar year 2013, and the #1 global publisher in the iOS game market in the June quarter.
- EA received 116 E3 awards from over 220 industry nominations, including 8 out of 15 awards from the official E3 Game Critics. Battlefield 4™ won a total of 21 awards at E3, including GameSpot's Best of E3 award, Need for Speed™ Rivals was named Best Racing Game, and NHL 14 took the honors for Best Sports Game. Titanfall™ from Respawn Entertainment won six major awards, including Best of Show, Best Original Game, Best Console Game, Best PC Game, Best Action Game and Best Online Multiplayer.
- The Simpsons™: Tapped Out recorded its highest revenue quarter* in Q1 since launching in August 2012.
- EA's mobile and handheld digital revenue generated $103 million* in the quarter, a 30% year-over-year increase in digital net revenue.
- Real Racing™ 3, the #1 racing title on iOS, has generated more than 45 million downloads, and has averaged over 2 million daily active users since launching in March.
- The Battlefield 3™ Premium community continues to grow with over 4 million members to date.
- FIFA 13 digital net revenue topped $70 million* in the quarter, a 92% increase versus FIFA 12 in Q1 FY 2013.
- FIFA Online 3 digital net revenue in grew 88%* in the first quarter compared FIFA Online 2 in the prior year, and was the #1 online sports game in Korea based on revenue and traffic.
- EA signs publishing agreement with TenCent for FIFA Online 3 in China, with details to be announced in an upcoming joint press release from EA and TenCent.
- EA's Origin™ platform for downloading digital games has registered over 50 million users, including 22 million mobile users.
- Trailing twelve-month non-GAAP digital net revenue was up 28% to a record $1.72 billion.