Electronic Arts swings to Q1 profit
Gaming Company, Electronic Arts Inc. (ERTS) has posted first-quarter profit and has shown that the adjusted results of the company has exceeded the expectations. The reason behind this is the sharp increase in margins and increase in sales.
Also known in the market as EA, the company owns brands like 'Rock Band,' 'Madden' and 'The Sims' as game franchises.
This is certainly good news for the company that has recovered from heavy losses. Since it has high development costs and was majorly hit by the recession, it faced stiffer times as compared to its peers.
Presently, EA has 52 million monthly active users who play the games on the Internet. Additions were done when it bought over Playfish. The company, however, did not give any internal revenue figures.
Post the declaration the shares of the company went up by 4.551 per cent and ended at $16.91.
Talking about this, Chief Operating officer John Schappert said the company has done very well.
He further added that the usage of Facebook Inc's credit system has turned out to be beneficial for both the sides. It is so good that EA is looking forward to go for a broader roll-out.