Electronic Arts scores high net revenue for fiscal year 2008, two games moved

Electronic Arts may not be first in the eyes of NPD Group, but it still manages to achieve numbers worthy of an industry leader for fiscal 2008. With Need for Speed ProStreet, FIFA 08, Rock Band, The Simpsons Game, The Sims 2 Castaway, and NBA LIVE 08 grabbing the attention of gamers worldwide, EA’s been able to reap major revenue in sales – a whopping 17% in fact, when compared to the third quarter last year. More of their financial performance at the full story.

Superstar publisher Electronic Arts took to the press waves, bringing along its preliminary results of the company’s financial performance for fiscal year (FY) 2008. The report highlighted that EA gathered as much as US$ 1.503 billion as net revenue for the third quarter of FY 2008. On a year-on-year basis, that’s a 17% rise from their third quarter rewards of FY 2007.

That, however, didn’t help the company with its gross profits, as the quarters numbers the company managed to grab only racked in a total of US$ 721 million. When compared to the third quarter of FY 2007, EA saw an 11% drop. Net income also isn’t doing well. When compared to last year’s income of US$ 160 million, US$ 33 million in net loss for the third quarter of FY 2008 does cut deep.

Still, the company is proud of its revenue figures. Even EA’s CEO, John Riccitiello went on to say, “This was a record revenue quarter for EA and the single biggest revenue quarter for any third party publisher in our industry.” He also says despite the move of two crucial games’ releases, they are proud of Burnout Paradise (Xbox 360 and PlayStation 3)’s success in the market and anticipate the reception of Army of Two and FIFA Street 3 (Xbox 360, PS3, and DS).

Sadly, the two games moved to EA’s fiscal year 2009 (April 1, 2008 to March 31, 2009) are Battlefield: Bad Company (PS3, Xbox 360) and Mercenaries 2: World in Flames (PS3, Xbox 360, PC). More news in the business of making games as soon as they drop by.