EA: Revenues up and losses reduced in Q1

EA’s Q1 revenue was up, and the publisher’s net loss dropped too in a like for like period, the firm revealed today in its financial results.

Net revenue for Q1 was $804 million, up $409 million compared to Q1’s $395 million last FY. Meanwhile EA’s net loss for the quarter was $95 million, a drop from last FY’s Q1 loss of $132 million.

EA CEO John Riccitiello said: "We are now seeing the early returns of the change agenda we started last year. Innovation and quality are rising, our games are more accessible and fun, and we have more new titles than at any time in our history.”

From SPORE on the PC to Dead Space on the PlayStation 3 and Xbox 360 to MySims on the Wii and Nintendo DS to Scrabble on the iPhone and Facebook, this is the best title portfolio in the company’s history."

EA is anticipating full-year net revenue to hit between an impressive $3 billion and $5 billion, compared with just over $4 billion in the prior financial year.