EA’s Q3 Results Lowered By Weaker Sales of Last-Generation Software

Electronic Arts announced financial results for the fiscal third quarter of 2013 that ended on Dec. 31. The company said that sales of next-generation software (PS4, Xbox One) were robust, but not enough to offset a massive decline in last generation software sales (PS3, Xbox 360). EA said that it was the number one third-party publisher of next-generation software, taking a 35 percent market share during the holiday season.

Year-on-year, EA's third quarter revenue for Xbox 360 and PlayStation 3 games dropped by 25 percent from $566 million to $425 million, while next-gen games generated $24 million for the company during the quarter. Revenue for PC games was up 13 percent, while overall console game revenues were down 22 percent overall, compared to the same quarter a year ago.

Mobile revenues were also up 13 percent, and digital revenues were up 27 percent year-over-year, to $517 million.

Overall EA saw a net loss during the quarter of $308 million. EA has lowered its full-year revenue guidance to $3.91 billion, blaming a weakness in demand for current-generation software.

Source: Gamasutra

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