EA reports a loss of nearly half a billion dollars in fiscal year 2008

Publisher Electronic Arts closes its fiscal year 2008 with a loss of almost half a billion dollars. However, the publisher saw its turnover increase to almost $ 3.7 billion, mainly thanks to Rock Band and Half-Life 2: Orange Box.

“We are very happy with the growth in revenue, but not happy with our profit margins,” EA CEO John Riccitiello said in the statement. Overview of the annual figures. The figures also show that EA recorded $ 1.13 billion in revenue in the last quarter of its fiscal year, but still suffered a loss of $ 94 million during that period. the company immediately wrote off the acquisition of development studios Bioware and Pandemic, which together cost $620 million. In fiscal 2007, EA spent “only” $100 million on studio acquisitions, which largely explains the negative balance.

Electronic Arts forecasts an increase in sales to $ 4.9 billion in fiscal 2009. Riccitiello hopes to add at least $1 billion to sales in the current fiscal year to return to the black numbers.

That will partly depend on the possible acquisition of Take-Two Interactive. In its annual report, the publisher indicates that various outside influences, including the outcome of the takeover attempt, could affect fiscal 2009 results.