EA digital revenue up, packaged revenue down

Electronic Arts reported financial results today for the fiscal quarter ending June 30, 2013, showing an increase in digital net revenue and a decrease in packaged goods compared to the same quarter last year.

GAAP digital net revenue was $482 million, compared to $342 million in Q1 2013, while revenue for publishing packaged goods and other net revenue was $452 million, down from $592 million in Q1 2013. Total net revenue was $949 million, compared to $955 million in Q1 2013.

EA singled out several games that performed well during the quarter, including The Simpsons: Tapped Out, which recorded its highest revenue in a quarter since its launch last year. Digital net revenue for FIFA 13 was more than $70 million (non-GAAP) in Q1 2014, which represents a 92 percent increase versus FIFA 12 in Q1 2013. In Q3 2013, digital net revenue for FIFA 13 topped $100 million.

According to the financial results, EA was also the top publisher in the iOS App Store, and the company's mobile and handheld digital revenue was $103 million (non-GAAP), a 30 percent increase year-over-year. In Apple's digital storefront, Real Racing 3 has been downloaded more than 45 million times and averaged more than 2 million daily active users since its launch in March.

"EA delivered first quarter EPS above our guidance through a combination of revenue growth, phasing of expenses, and cost control," said CFO Blake Jorgensen. "We are reaffirming our annual non-GAAP guidance of $4 billion net revenue and $1.20 earnings per share."

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