6:52 AM
Amit Khajuria
Videogame publisher Electronic Arts announced preliminary financial results for its first fiscal quarter ended June 30, 2011, posting numbers that came in higher than what analysts were expecting. EA's GAAP total net revenue for the quarter settled in at $999 million, up 23 percent from the $815 million it posted in the same quarter one year ago. "This was another solid quarter driven by both digital and packaged goods," said John Riccitiello, Chief Executive Officer. "We saw strong digital revenue growth over the prior year. On packaged goods, NCAA is off to a great start and pre-orders for Battlefield 3 are tracking extremely well."
EA said its digital games revenue grew 11 percent from a year ago to $209 million, helped in large part by sales of over two million units of Portal 2 in the first quarter. Portal 2 was one of four EA titles that ranked as one of the top 20 selling games in Western markets, the others being Crysis 2, FIFA 11, and Tiger Woods PGA Tour 12: The Masters.
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