Glu Mobile and Electronic Arts released 3rd quarter earning results. Both gaming giants reported losses, but less than last year quarter over quarter. It is interesting to note the performance of mobile and social gaming in their respective product mixes to illustrate where the business may be heading. Less revenue, better profit.
(Release) Glu Mobile Inc., a leading global publisher of social games for smartphone and tablet devices, today announced financial results for its third quarter ended September 30, 2010.
For the quarter ended September 30, 2010, Glu reported revenues of $15.5 million compared to $19.6 million in the third quarter of 2009. GAAP loss from operations and net loss were $(1.2) million and $(1.6) million, respectively, for the quarter ended September 30, 2010 compared to GAAP loss from operations and net loss of $(2.8) million and $(4.0) million, respectively, in the third quarter of 2009. GAAP loss per basic common share was $(0.04) for the quarter ended September 30, 2010 compared with a GAAP loss per basic common share of $(0.13) in the same period last year. GAAP net loss for the third quarter of 2010 included $177,000 in foreign exchange gains compared to $(28,000) in foreign exchange losses last year.
(Release) Electronic Arts Inc. (NASDAQ: ERTS) today announced preliminary financial results for its second fiscal quarter ended September 30, 2010.
“We had another strong quarter, beating expectations both top and bottom line,” said John Riccitiello, Chief Executive Officer. “We credit our results to blockbusters like FIFA 11 and to innovative digital offerings like The Sims 3 Ambitions and Madden NFL 11 on the iPad.”
“EA reaffirms its FY11 non-GAAP guidance,” said Eric Brown, Chief Financial Officer. “EA is the world’s #1 publisher calendar year-to-date and our portfolio is focused on high-growth platforms — high definition consoles, PC and mobile.”
Selected Quarterly Operating Highlights and Metrics:
- EA is the #1 publisher on high-definition consoles with 25% segment share calendar year-to date, two points higher than the same period a year ago.
- In North America and Europe, the high-definition console software market is growing strongly with the combined PlayStation(R)3 and Xbox 360(R) segments up 23% calendar year-to-date. The PlayStation 3 software market is up 36% calendar year-to-date.
- EA is the #1 PC publisher with 27% segment share at retail calendar year-to-date and strong growth in digital downloads of full-game software.
- For the quarter, EA had six of the top 20 selling games in Western markets with FIFA 11, Madden NFL 11, NCAA(R) Football 11, NHL(R)11, Battlefield: Bad Company(TM) 2 and FIFA 10.
- FIFA 11 was the #1 title in Europe in the second quarter, and life to date, the FIFA franchise has sold over 100 million units worldwide.
- EA was the #1 publisher across all platforms on the Apple(R) App Store in the quarter.
- At GamesCom, EA won more nominations (10) and awards (five) than any other publisher. Winners included: Crysis(TM) 2 for Best PC Game; Dead Space(TM) 2 for Best Survival Game; Rock Band(TM) 3 for Best Music Game (with MTV/Harmonix); Star Wars(R): The Old Republic(TM) for Best MMO Game; and FIFA 11 for Best of GamesCom.
- On October 19, 2010, EA acquired Chillingo, a publisher of top iOS titles including Cut the Rope and Angry Birds. Chillingo extends EA’s App Store leadership and adds an open social gaming platform to EAi’s publishing capabilities.
- Medal of Honor(TM) is off to a strong start, selling-through 2 million units in just two weeks in October.