Earnings: EA Moves To Loss On Major Tax Bite; Mobile Up 233 Percent

Electronic Art’s woes continue with a tax-related net loss of $16 million for Q1 compared to an $8 million profit in the same quarter last year. Net revenue rose 16 percent to $641 million. Net income for the year was down to $236 million, or 75 cents per share, compared to $504 million, or $1.59.
Chairman and CEO Larry Probst: “This transition is more than a console upgrade. In addition to creating games for the PlayStation 3, Xbox 360 and Nintendo Wii, EA is positioning for global leadership in online, handhelds and mobile phones.” Mobility-based net revenue, which includes handhelds and mobile, was $393 million, up $275 million or 233 percent.
Earnings release | Webcast (replay)
A Limited New Lineup From Electronic Arts, the Video Game Giant

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