EA Q1 Revenues Reach $432M

Electronic Arts reported a net revenue of $432 million for the fiscal quarter (Q1 2005) that ended June 30, up 22 percent from the same time last year. The company regaled investors, citing some of its most profitable games of the quarter, such as Harry Potter and the Prisoner of Azkaban, EA Sports Fight Night 2004, and UEFA Euro 2004. Other strong titles carrying a turnover are Need for Speed: Underground and MVP Baseball. PlayStation 2 titles earned the company the most profit by console in Q1 with $162 million, a 37 percent increase from last year. Xbox titles gained a whopping 81 percent from the year prior, raking in $57 million; GameCube games pulled in $26 million, and Game Boy Advance $18 million. "We are off to a great start in our new fiscal year," said Larry Probst, chairman and CEO. "We received five Game Critics Awards for Best of E3--a record for any company, and three of our first quarter releases went platinum. We continue to extend our lead by creating great entertainment while building for the next generation of technology." The five Game Critics Awards: Best of E3 2004 that EA took home were Def Jam Fight for NY for best fighting game; Burnout 3: Takedown for best racing game; The Sims 2, best simulation game; Madden NFL 2005, best sports game; The Lord of the Rings: The Battle for Middle Earth, best strategy game.