Riccitiello: Q1 FY12 Earnings Announcement
akatkin
2011-07-26
EA today announced their preliminary financial results for the fiscal quarter that ended June 30th, 2011. Our CEO, John Riccitiello, shared the results with all EA employees earlier this afternoon via a company-wide email. His note is posted below.
Today we announced our First Quarter financial results for Fiscal Year 12. The press release and financial tables are attached for your review.
We’re off to a great start with results ahead of expectations for both our digital and packaged goods business. And this week we received good news about demand for a few of our big franchises: pre-orders for both Battlefield 3 and Star Wars: The Old Republic are extremely strong. NCAA Football is tracking well above last year’s sales and the NFL players and owners have resolved a dispute that threatened to disrupt the season. There will be a full season of pro football this year.
At E3, we took 19 of the top awards for titles like Mass Effect 3, Battlefield 3, Star Wars: The Old Republic, SSX, Need for Speed The Run, Kingdoms of Amalur: Reckoning (developed by 38 Studios and published by EAP), Madden NFL 12, FIFA 12 and NHL 12.
Our acquisition of PopCap Games is expected to be completed in August and we will begin the integration with our casual initiatives, including the team at Pogo. We are beyond thrilled that the team who created Plants vs. Zombies, Bejeweled, Zuma and many other great casual games is joining EA.
Looking forward, our focus in FY12 is on a new set of priorities:
1. IP -- Building our key franchises into year-round experiences – businesses that cross a range of platforms in both packaged goods and digital formats.
2. Platform -- Building a solid ecosystem for leveraging our content and services with a focus on our own platform, Origin, while supporting our retail partners.
3. Talent-- Investing in our creative and engineering talent to drive and manage our IP across multiple platforms, from console to social and PC to mobile.
FY12 is going to be one of the most exciting years in EA history. We expect a year full of epic achievements that shape careers, change the industry and deliver a whole lot of fun for fans. We will:
- Launch Star Wars: The Old Republic and compete for a big slice of the MMO market.
- Launch Battlefield 3 head-to-head against an entrenched competitor and take share in the important FPS genre.
- Launch Madden in a year when NFL owners, players and fans are truly excited about a full season of football.
- Propel the FIFA franchise to new heights, across a multitude of platforms, digital and packaged goods.
- Take The Sims to Facebook – social will never be the same.
- Expand Origin with new capabilities and services to support our customers on a 24-7 basis.
- Push beyond $1 billion in digital revenue.
When we hit these milestones, we will finish the year a much different company than we started – more diversified, more digital, more profitable and with more career opportunities for our employees.
I want to thank each of you for your vision, perseverance and the pride you take in your work.
John
