EA posts $677 million loss in FY2010 alongside downed revenues

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EA posts $677 million loss in FY2010 alongside downed revenues
EA has reported the results for its fiscal year 2010, which ran from April 1, 2009 through March 31, 2010, showing a downed revenue stream for the year and an improved loss. The company took in $3.654 billion (down from $4.212 billion in FY2009) and, measured against money spent, lost $677 million (an improvement from last year's $1.088 billion in losses). Additionally, Q4 2010, running from January 1 – March 31, 2010, saw $979 million come in, compared with $860 million in Q4 the previous fiscal year and $1.243 billion last quarter -- a profitable final quarter for the company, contrasting last year's Q4 loss of $42 million with $30 million earned.

CFO Eric Brown said of the coming fiscal year, "We are affirming our FY11 and Q1 non-GAAP guidance and expect to grow profitably in the year ahead. Our digital businesses are expected to grow approximately 30 percent." For all of you wondering what that means in human speak, he's saying that, regardless of today's announcement, he's confident in what the company has predicted for the coming year (as you might imagine, EA predicts it's going to do better than last year).

It also means that Brown and EA expect to see a lot more dollars coming in on the digital front in the coming year, a likely possibility given initiatives like Project Ten Dollar, the EA Sports Online Pass and the usual stream of DLC for new games.
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