PS2 News: Electroic Arts Announces Q12004 Financial Results - PS2 News

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Electroic Arts Announces Q12004 Financial Results

Electronic Arts today announced financial results for the fiscal first quarter ended June 30, 2004.

Highlights:

Net revenue for the first quarter was $432 million, up 22 percent as compared with $353 million for the same period last year.

Net income for the quarter was $24 million, a 32 percent increase compared to the same period a year ago.

Sales were driven by Harry Potter and the Prisoner of Azkaban, EA SPORTS' Fight Night 2004, and UEFA Euro 2004, each selling over one million units in the quarter.

Need for Speed: Underground and MVP Baseball 2004 had continued strong sales. Life-to-date sales of Need for Speed Underground have now exceeded 7 million units. (Ed. Note: Wow, so people aren't just using their Blockbuster Gamers Passes to hold onto the game forever)

"We are off to a great start in our new fiscal year," said Larry Probst, Chairman and Chief Executive Officer. "We received five Game Critics Awards for Best of E3 -- a record for any company and three of our first quarter releases went platinum. NCAA Football's week one sales are tracking over 50 percent ahead of last year, and Madden NFL's pre-orders are at record levels. We continue to extend our lead by creating great entertainment while building for the next generation of technology."

7/22/2004 Frank Provo

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