EA profits heavily for quarter
Electronic Arts announced today record profits in the quarter ending September 30. The company posted net revenues of $453 million, which was up from $240 million from last year. EA's success can be attributed to numerous blockbuster releases including Madden NFL, NCAA Football, The Sims, and Medal of Honor. Although the overall increase from last year is slightly shocking, most analysts aren't surprised at EA's success.
"EA is hitting on all cylinders," said Warren Jenson, Chief Financial and Administrative Officer. "For the trailing four quarters, our revenue topped $2 billion for the first time in EA history while our trailing four quarters operating cash flow exceeded $450 million."
10/24/2002 Matt Stensrud