Electronic Arts performs well in the most recent quarter

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.”