EA doubles Q1 revenues, troubled by $95 million loss
Monolithic publisher EA has reported the preliminary financial results for its first fiscal quarter, ended June 30, 2008, and noted a dramatic increase in net revenues. Despite sales rising $409 million to $804 million (more than double that of Q1 2007's $395 million), the publisher still suffered a net loss of $95 million, which according to our admittedly rudimentary mathematical abilities, is smaller than the previous year's $132 million. We want net loss to be smaller, right?
EA's rise in sales can be attributed to the strong commercial performance of titles like UEFA Euro 2008, the "continued strength" of Rock Band and Battlefield: Bad Company, which managed to shift 1.6 million copies. "We are now seeing the early returns of the change agenda we started last year," stated CEO John Riccitiello. He went on to use words like "innovation" and "quality" to describe EA's forthcoming lineup, calling it "the best title portfolio in the company's history." We would totally agree, especially after experiencing the publisher's strong E3 showing ... but we're worried that doing so might just trigger Armageddon.
