EA Reports $273 Million Loss in Second Quarter of Fiscal 2014
ByDate: Oct 30 2013 Views:
EA released its financial report for the second quarter of fiscal 2014, a period of time that stretched from July 2013 through the end of September, reporting a net loss of $273 million during that time.
The publisher saw a two percent decline in net revenue compared to the same three-month time frame last year, as total revenue reported by EA in the last quarter was $695 million. This was a 26.8 percent decrease from the first quarter and was 11.2 percent above the company's projections for the second quarter.
The company noted its decision to exclude its $40 million college football lawsuit settlement from its non-GAAP (Generally Accepted Accounting Principles) financial measures and when "evaluating its operating performance and the performance of its management team during this period and will continue to do so when it plans, forecasts and analyzes future periods." The settlement was first announced in late September, at which point the publisher canceled the 2014 college football game that was no longer bearing the NCAA name.
EA is projecting $775 million in net revenue for the third quarter, which ends December 31.
Source: Electronic Arts