Electronic Arts performs well in the most recent quarter

World’s largest publisher of videogames Electronic Arts has exceeded Wall Street’s expectations with its fourth-quarter earnings.

However, EA reported that their net income for the three months ended Dec. 31 dropped 38 percent to $160 million.

This drop was blamed on the $28 million charge resulting from a major accounting change in stock-based compensation.

Excluding those charges, EA earned $201 million, or 63 cents per share.

They launched some big titles in the recent quarter including “Need for Speed Carbon,” “FIFA 07,” “The Sims 2 Pets” and “Madden NFL 07″.

Market analyst David Gardner spoke about EA: “EA just mass-markets these sports titles every year, but they’ve been sucking on that pig for a long time and it’s kind of painful to watch. I’ve been a happy investor for the last five years, but I don’t know how long that will last. The company needs more innovation.”