EA records $454 million loss, despite sales of $3.6 billion in fiscal 2008
EA announced today that sales were way up this past fiscal year. Still, all those billions didn't stop the company from losing $454 million. While the publisher's revenues increased an amazing 19% to $3.7 billion, and EA saw its FY08 Q4 bring in $1.1 billion, the overall loss was a far cry from the company's $76 million in profit during FY07. Much of the loss can be attributed to EA's expensive tastes, which included the purchase of BioWare and Pandemic in FY08.
EA CEO John Riccitiello said that the company has felt "aggressive change" over the last year and was pleased with the revenue numbers (far more than Activision made in its FY08), which crowned EA as the undisputed, number one publisher in North America and Europe for the fiscal year. EA had 27 games reach the platinum mark in sales, 15 of which went double platinum. In the new fiscal year though, Riccitiello would definitely like to see some profit. The company, in giving guidance for FY09, predicts revenues between $4.9 and $5.15 billion. The EA Games label plans to release more than 20 titles, including 9 new IPs, in FY09.
[Via GameDaily]
