updated 09:00 am EDT, Wed August 2, 2006
Losses and gains at EA
For proof that the game industry is in the big leagues, look no further than EA, which posted a 13 percent increase in net revenues this quarter over the same quarter last year, for a total of $413 million. Gross profits were up 14 percent to $245 million. They won't get to keep it all however, because net losses also increased to $81 million, and trailing twelve-month operating cash flow went down to $589 million from $669 million. In the same report, EA CEO Larry Probst promises greater support for Nintendo formats and a healthy launch lineup for Sony's PS3, which is expected to ship this Fall.