EA Quarterly Profits Up

Electronic Arts has announced its results for fiscal Q1 2005. They had three new titles sell a million copies, and the slightly older Need For Speed Underground recorded its seven millionth sale. Q2 numbers will be even better, with NCAA Football and Madden numbers ranging 50-100% higher than last year's stellar totals.

Net revenue for the first quarter was $432 million, up 22 percent as compared with $353 million for the fiscal quarter ended June 30, 2003. Sales were driven by Harry Potter and the Prisoner of Azkaban(TM), EA SPORTS(TM) Fight Night 2004 and UEFA Euro 2004, each reaching platinum status (over one million units sold) in the quarter... Net income for the quarter was $24 million, a 32 percent increase compared to the same period a year ago. Diluted earnings per share were $0.08 as compared with $0.06 for the prior year.