EA financials: EA posts third quarter loss on record revenues

By Patrick Garratt, Thursday, 31 January 2008 21:36 GMT

EA has issued financials for its third quarter – ending December 31 – showing a $33 million loss despite record revenues of $1.502 billion, up 17 percent on the same period last year. The loss related to 10 cents per share, compared to a 50 cents per share profit for the company’s third quarter in the previous year. Deferred revenue and restructuring charges were blamed for the loss.

Before charges, profits for the quarter were up 44 percent over the same period in fiscal 2007. Before exceptions, investors would have enjoyed 90 cents per share profit.

“This was a record revenue quarter for EA and the single biggest revenue quarter for any third party publisher in our industry,” said CEO John Riccitiello. “While we are disappointed that two titles slipped out of the March quarter, Burnout Paradise is off to a terrific start and we are looking forward to the upcoming launches of Army of Two and FIFA Street 3.”

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