The Battlefield and FIFA franchises have been doing EA some good thus far into its 2013 fiscal year to say the least, as CEO John Riccitiello boasts that both series are the "two biggest revenue events" in the company's history and are "well on their way to becoming billion dollar annual franchises." Bolstering the strength of the EA Sports label was Madden NFL 13, which together with FIFA 13 made for September's top selling titles in the "western world."
For its second fiscal quarter ended september 30th, 2012, EA surpassed expectations and posted net revenue of $1.08 billion USD and a profit of $49 million USD, up year-on-year from the $17 million USD in net income it posted during the same period back in FY2012.
EA highlighted a 40 percent year-on-year growth in digital revenue which it attributed not only to its mobile games and services, but digital sales from console and PC titles as well like FIFA and Battlefield.
On the other hand, EA is tempering expectations for its fiscal third quarter results. The publisher has slightly lowered its revenue forecast for the three-month period covering the upcoming holiday season to somewhere between $1.25 billion to $1.35 billion USD, partially because of Medal of Honor: Warfighter underperforming at retail by EA's reckoning but also on account of the slowing market for boxed retail software in general.
Selected Operating Highlights and Metrics:
- Need for Speed Most Wanted launches this week with great reviews. IGN and Game Informer awarded Need for Speed a 9 out of 10.
- FIFA 13 and Madden NFL 13 debuted as the two top-selling titles in September in the Western World.
- EA was the #1 publisher in the Western World in calendar year 2012 to date, with five of the top seven titles.
- FIFA 13 sold through 7.4 million units, excluding mobile downloads, in its first four weeks to become the biggest sports launch of all-time.
- FIFA digital net revenue generated over $115 million* in the first half of fiscal 13, including FIFA Online 2 and FIFA World Class Soccer that together contributed over $50 million*.
- Madden NFL 13 launched to critical acclaim, logged record fan engagement with nearly 30% year over year increase in total online game sessions, and increased units sold through by 9% in fiscal Q2 as compared to Madden NFL 12.
- Battlefield 3 Premium service has sold over 2 million subscriptions to date.
- Medal of Honor Warfighter topped the charts in the UK in its first week of sales.
- The Simpsons: Tapped Out has been a top grossing iOS game for the past four weeks, was the #1 application in 54 countries, including the US, UK and Germany, and recently logged a record-high of 2.8 million daily active users.
- EA’s games and services for mobile have generated a 60% year-over-year increase in digital net revenue*.
- Catalog continues to outperform with Battlefield 3 and FIFA 12 together selling through nearly 4 million units in the first half of the fiscal year.
- Trailing twelve month non-GAAP digital net revenue was a record $1.44 billion.
- Trailing twelve month operating cash flow was $490 million, a $183 million improvement from the prior quarter.
- EA repurchased $108 million of shares in the second fiscal quarter pursuant to a $500 million Share Repurchase Program announced on July 31, 2012.
- EA’s Origin platform for downloading digital games and services has registered over 30 million users, including 13 million mobile users. Origin has signed agreements with 71 independent developers.
*On a non-GAAP basis