Joystiq

EA posts $45 million net loss in Q3, reduces revenue forecast

Sinan Kubba — Thu, 31 Jan 2013 08:30:00 EST

Electronic Arts announced a net loss of $45 million for its third fiscal quarter, ending December 31, 2012. The figure represents a significant year-on-year improvement from the company's previous Q3 net loss of $205 million. However, net revenue for the quarter endured year-on-year decline, down from $1.061 million to $921 million.

In light of the economy's weakness, EA adjusted fiscal year net revenue forecasts to between $3.7 billion and $3.8 billion, down from the figures of $3.85 billion to $4 billion as per the company's Q2 financials. Speaking to Reuters, EA chief financial officer Blake Jorgensen noted the company's uncertainty over the market in the next few months.

"The economy hasn't gotten any stronger," Jorgensen said. "It's a little early for me to know how strong the market's going to be, so based on that we widened our range for revenue for the fourth quarter and brought our guidance down slightly just to make sure we're prudent."

Yesterday's financial call revealed continuing successes for many of EA's headline franchises, such as FIFA, Battlefield, Dead Space and Crysis. However, following the poor reception to Warfighter, the company said it's taking Medal of Honor "out of rotation."

EA posts $45 million net loss in Q3, reduces revenue forecast originally appeared on Joystiq on Thu, 31 Jan 2013 08:30:00 EST. Please see our terms for use of feeds.

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FIFA 13 sold 12 million in 2012, revenue up from FIFA 12

Jessica Conditt — Wed, 30 Jan 2013 16:35:00 EST

FIFA 13 sold through 12 million units through the third fiscal quarter ending December 31, 2012, an increase of 23 percent over FIFA 12's sales the previous year. In adjusted, non-GAAP sales, FIFA 13's digital net revenue hit $100 million in Q3, a 98 percent increase over FIFA 12 in Q3 2012.

Throughout the first three quarters of 2013, FIFA generated more than $230 million in digital net revenue, including more than $60 million from FIFA Online 2 and FIFA World Class Soccer.

FIFA 13 sold 12 million in 2012, revenue up from FIFA 12 originally appeared on Joystiq on Wed, 30 Jan 2013 16:35:00 EST. Please see our terms for use of feeds.

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Logitech to phase out production of console gaming accessories

Jordan Mallory — Sat, 26 Jan 2013 13:30:00 EST

The third quarter of fiscal 2013 wasn't especially awesome for Logitech, despite the fact that I personally spent 30 of my own dollars on a wireless keyboard within that time frame. Whereas the same period last year saw a net profit of $55 million, Logitech posted a net loss of $194.9 million in its most recent earnings report.

As a result, some of Logitech's divisions will be scaled back, while others will be discontinued altogether. "We have initiated the process to divest our remote controls and digital video security categories, and we plan to discontinue other non-strategic products, such as speaker docks and console gaming peripherals," said Logitech president/CEO Bracken P. Darrell.

While Logitech's console peripheral business will disappear, the company's PC gaming offerings will remain unchanged. We've also been able to confirm that Logitech console accessories that have already been purchased will continue to exist, and will not crumble into piles of dust. These cost reduction measures are expected to take place "by the end of Calendar Year 2013."

Logitech to phase out production of console gaming accessories originally appeared on Joystiq on Sat, 26 Jan 2013 13:30:00 EST. Please see our terms for use of feeds.

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