EA reduces full-year losses to $276m
Digital sales boost fourth quarter profit by 42 per cent to $151 million
Electronic Arts has more than halved its annual losses to $276 million, down from $677 million for the same period last year.
Sales remained relatively flat at $3.59 billion, compared to $3.65 billion. The company's fourth quarter was particularly strong, with $151 million in profits, up from $30 million.
Digital sales were the standout success for Electronic Arts, sales were up 42 per cent to $211 million in the fourth quarter and the company stated that sales from iOS software and the Playfish business were up over 100 per cent. The packaged goods business grew only 5 per cent in Q4.
"We're particularly proud of the scale and growth rate of our digital business," commented John Riccitiello, EA's CEO.
"EA is building its digital business in a way only EA can, with key brands performing well cross-platform from mobile, to social to console."
Revealing sales figures, EA said that FIFA 11 has now topped 11 million units, Battlefield: Bad Company 2 has shifted 7 million while Need for Speed: Hot Pursuit and Madden 11 have both reached 5 million sales.
Speaking of future titles, EA said that Mass Effect 3 has now been delayed until the first quarter of 2012, and the publisher would still not be drawn on any solid release window for Bioware MMO Star Wars: The Old Republic.