Publisher Electronic Arts reported its Q2 results for fiscal year 2014 today, citing strong sales of digital offerings as leading the company's performance.
The earnings report covers the three-month period ending Sept. 30, 2013. GAAP total net revenue was $695 million, down from $711 million in the same quarter last year. GAAP income from published packing goods and other net revenue was $223 million, as compared to $365 in the same quarter last year. EA reported a GAAP net income of $227 million for the quarter.
GAAP digital net revenue increased from $324 million last year to $450 million this year, led by games like The Simpsons: Tapped Out, which EA said eclipsed $100 million in non-GAAP life-to-date net revenue since its August 2012 launch. Other digital titles of note include Plants vs. Zombies 2, which has been downloaded more than 25 million times since its August 2013 launch and Real Racing 3, which has received 70 million downloads and has a monthly active user base of 18 million players.
Ultimate Team modes in NCAA Football, Madden NFL, NHL Hockey and FIFA, which allow players to purchase packs of digital trading cards with in-game or real-world money, grew year-over-year and helped to drive digital growth, according to EA.
The fiscal report also confirmed that Electronic Arts recognized a $40 million charge "for expected litigation settlement and license expenses related to our college football business." The total of the settlement between EA and the Collegiate Licensing Company was previously reported but has now been confirmed by EA.