EA: "We're a Better Company" Now
John S. Riccitiello announces a billion dollar year in digital
Electronic Arts has had a good year. Or to use business parlance, a positive twelve month trailing period. Specificially in the realm of digitally delivered content. It's been a $1Billion year in fact. Which is not great news for bricks and mortar retailers.
According to CEO, John S. Riccitiello, speaking at an analysts' call last night:
"We shattered our digital non-GAAP revenue goal, achieving the $1 billion target in calendar 2011."
The "GAAP" means 'Generally Accepted Accounting Principles' and basically a way for everybody to agree on exactly what terms such as 'revenue', 'sale' and 'One Billion Dollars' mean when reporting financials. So, using Non-GAAP terms is referring to EA's own internal auditing methods.
That said, it's still a huge figure.
It also enable Mr R' to point out that, "We proved our Fewer, Better, Bigger thesis and are now making more revenue on fewer titles and have now turned the page to focus on 3 new strategies: building our brands, our platform and our talent."
And this enabled a flourish, "We're a much better company than we were at the start of the fiscal year, much better position for growth in the years ahead."
By 'Better' here, he means 'more profitable'.
Source: SeekingAlpha
According to CEO, John S. Riccitiello, speaking at an analysts' call last night:
"We shattered our digital non-GAAP revenue goal, achieving the $1 billion target in calendar 2011."
The "GAAP" means 'Generally Accepted Accounting Principles' and basically a way for everybody to agree on exactly what terms such as 'revenue', 'sale' and 'One Billion Dollars' mean when reporting financials. So, using Non-GAAP terms is referring to EA's own internal auditing methods.
That said, it's still a huge figure.
It also enable Mr R' to point out that, "We proved our Fewer, Better, Bigger thesis and are now making more revenue on fewer titles and have now turned the page to focus on 3 new strategies: building our brands, our platform and our talent."
And this enabled a flourish, "We're a much better company than we were at the start of the fiscal year, much better position for growth in the years ahead."
By 'Better' here, he means 'more profitable'.
Source: SeekingAlpha
Companies:
Electronic Arts
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