EA announced today that consolidated net revenues for the quarter ending Dec. 31st, 2002 were $1.23 billion, up 48 percent fom $833 million last fiscal year. Net revenues were driven by hot properties Harry Potter, James Bond: Nightfire, Lord of the Rings, Need for Speed 2: Hot Pursuit, and Medal of Honor Frontline. Consolidated net incom for the quarter was $250 million, and 89 percent increase over last year.
"This was a historic holiday season for the Company," said Larry Probst, Chairman and Chief Executive Officer of Electronic Arts. "EA became the first third-party publisher to achieve a billion dollar quarter. Eleven titles sold more than one million units. Our global development and publishing organizations have never been stronger."
In the U.S., EA had five of the top ten titles on the industry leading PlayStation®2 computer entertainment system and five of the top ten titles on the PC.
EA also announced that it will consolidate its Los Angeles, Irvine and Las Vegas studios into one game development studio in Los Angeles.
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