We're gonna fly...
Briefing.com - In Play:
5:54PM Electronic Arts comments on growth prospects (ERTS) 56.90 -0.05: -- Update -- In response to analyst question, says it believes its market will grow 20-25% for next several years; believes it can achieve a higher market share for PS2 (perhaps around 25%) than it did for PS1; thinks it can be leading third-party publisher for Xbox and GameCube which suggests mid-to high-teens market share... ERTS +1.14 at 58.04
5:46PM Electronic Arts comments on market; raises FY02 guidance (ERTS) 56.90 -0.05: -- Update -- On call, says it expects market will grow in excess of 20% in calendar 2002... thinks Sony will ship a similar number of PS2 units (i.e. 18 mln) in next fiscal year as it will in fiscal year ending in March... for core business, raising its FY02 top-line guidance to mid- to high-20% range (from mid-teens); operating income growth in excess of 100% (from 75-90%); gross margins about same as last year; operating expenses up in single digits (had previously said they'd be flat)... for EA.com, expects full-year net loss somewhere in $80 mln range, which is what it previously indicated; projects revenue growth of 80-90%... ERTS +0.06 at 56.96
5:30PM Electronic Arts sees cash grow (ERTS) 56.90 -0.05: -- Update -- On call, notes that it ended fiscal Q3 (Dec.) with approx. $487 mln in cash and cash equivalents... says to expect to see significant increase in cash position as it approaches March... ERTS -1.09 at 55.81
Sorry I am listening to the ERTS conference call.....
If you missed it get new batteries for your hearing aid.
They did not give actual revenue of profit numbers, only % increases and they were LARGE.
It does not take much to determine that much higher targets are coming.
Stan said the raised top-line from mid/high teen growth to mid/high twenties growth. Income from 75-90% growth to over 100% (that's what I heard anyway)....but I was cleaning up my diet coke that I spit all over my desk, so I might have missed some of it.