Riccitiello not pleased with EA financials - MCV

Riccitiello not pleased with EA financials

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The super-publisher has revealed its fiscal results for the period ended June 30th, a set of results described as ‘not acceptable' by head honcho John Riccitiello in a conference call reported by

next-gen

.

EA confirmed that that net revenue for the quarter was $395 million, down four per cent year-on-year. Gross profit for the quarter was $229m, a drop of seven per cent when compared to last year. Net losses stood at $132m, a considerable rise from last year's figure of $81m.

Leading software performers include Harry Potter and the Order of the Phoenix, Command and Conquer 3, The Sims 2 Pets, Need for Speed Carbon and The Sims 2.

Point blank, this cycle is developing quite differently than the last cycle,” said CEO Riccitiello. The next-gen hardware build is going a little more slowly.”

He also singled out Wii as having ‘unexpected strength' and added that ‘The PS3 hasn't – yet - performed as well as we expected it to. That probably has a bigger impact than any other factor on our margins.'

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