EA Q2 Results Show Continued Improvement

Officials from Electronic Arts have published the company’s second quarter figures, showing yet another rise in both turnover and profit. For the fiscal second quarter ended September 30 the company’s net revenue was $530 million, up 17% compared to the same time last year. Net income was up by 52% to $77 million, with diluted earnings per share for the quarter increasing by 47% to $0.50, as compared with $0.34 for the prior year. Net revenue is expected to be between $1.425 and $1.475 billion - up 16 to 20 percent year-over-year. Diluted earnings per share are expected to be between $2.30 and $2.40 - up 36 to 42 percent year-over-year. The company’s biggest titles for the period were Madden NFL 2004 and NCAA Football 2004 with 3.6 million and 1.3 million unit sales, respectively. This despite both titles appealing solely to the US market. Net revenues for the fiscal year ending March 31, 2004 are predicted at between $2.85 and $2.93 billion, up 15% to 18% from the previous year. Diluted earnings per share are expected to be between $3.35 and $3.50 - up 54% to 61% year-over-year. The company has also announced that it is to perform a two-for-one stock split of its common stock, which will be carried out through a share for share dividend on 3rd November.