EA Reports Record Results; Announces DS/PSP Support

Officials from Electronic Arts have reported the company’s results for the full year ended March 31, with a record $2.957 billion in global turnover – with sales exceeding $1 billion in Europe for the first time. Net revenues rose 19% on the previous year’s figures, with the company enjoying twenty-seven platinum titles (games which sold over one million units), on a US market share of 27% (up 5%) and a European market share of 26% (up 6%). Net income for the year was $577 million, an 82% increase over the prior year. Diluted earnings per share increased 73% to $1.87 as compared with $1.08 for the prior year. The company is now predicting revenues of between $3.25 and $3.40 billion for the next year, well outstripping the underlying growth of the software market. Also today, CEO Larry Probst announced that the company would be supporting both the Nintendo DS and the PlayStation Portable (PSP). Although no details were revealed on the form support for Nintendo’s new portable might take, Probst suggested that the company would release between four and six titles for the PSP before the end of March 2005. Source: Electronic Arts