EA posts Q1 fiscal results

Electronic Arts has today published the results for the first quarter of the 2013 fiscal year. In the release, EA has revealed that it made a net income of $201 million in the last quarter, which is down from $221 million from the same period last year.

EA has also revealed that the Battlefield Premium service for Battlefield 3 has over 1.3 million subscriptions and that its digital games and services have seen a 37 percent increase year-on-year.

In the press release, EA CEO John Riccitiello says
"We have established an unmatched diversity in our business with multiple brands performing across several channels, business models and geographies."

"We had a solid first quarter and are reconfirming non-GAAP guidance of annual earnings per share growth of 30% at the midpoint of our guidance," said Interim Chief Financial Officer Ken Barker.

"The $500 million stock buyback demonstrates our confidence in EA’s future."

"We continue to make progress in our goal of becoming the leading digital entertainment company," said President of EA Labels, Frank Gibeau.

"Over the last twelve months, we generated over $1.3 billion in non-GAAP digital net revenue, and approximately two-thirds of our non-GAAP net revenue in the first fiscal quarter was in digital."

Source: EA