Top vidgame publisher Electronic Arts kept up its rapid pace of growth in the first quarter, fourth on its calendar, posting a 29% rise in revenue to $598 million and an 11% increase in net revenue, excluding a one-time charge last year, to $90 million.
For the fiscal year, company’s net revenue rose 19% to $2.96 billion, while net income was up 82% to $577 million. Biggest hits in fiscal 2004 included titles based on “The Lord of the Rings” and new versions of “Madden NFL Football.”
For fiscal 2005, the No. 1 video game publisher said net revenue should rise between 10% and 15% to $3.25 billion to $3.4 billion, while diluted earnings per share will rise from $1.87 last year to between $1.95 and $2.10.
EA shares fell 1.7% to $49.95 Thursday before the earnings release.