Second quarter earnings for its fiscal '09 year were up more than 39% compared to the same period last year, Electronic Arts annnounced today.
Led by Madden NFL 09 sales of 4.5 million units, nearly 2 million copies of Spore and 1.2 million copies of Warhammer Online: Age of Reckoning, EA's net revenues ended up at $894 million. That was not enough to put the quarter in the black, as the company's net loss ended up at $310 million. That compares to revenues of $640 million and a $195 million net loss during the second quarter of fiscal 2008.
The Xbox 360 remains the most important platform for EA, as Microsoft's console generated 25% ($224 million) of the company's revenues in the quarter, which ended September 30. After that, the PlayStation 3 accounted for $98 million, the PC $88 million, PlayStation 2 $55 million and the Wii $33 million.
To improve financials and weather current economic conditions, Electronic Arts is starting a cost reduction plan, which includes letting go of 6% of its workforce. Through the plan, EA hopes to save $50 million a year pre-taxes.
better revenue less worse loss lol
mad libbed his way outta that one