Strong quarter saves EA from annual loss

$367m profit in final quarter brings EA into the black

EA narrowly avoided posting a loss in for the past financial year after enjoying a strong fourth quarter, ended March 31, 2014.

In its latest financial results, posted Tuesday, the publishing giant reported profits of $367 million for the months between January and March, up from $323 million recorded during the same period last year.

Electronic Arts made just million profit for the full financial year

This helped edge the firm just outside of the red for the full year, posting a tiny net profit of just $8 million for the 12-month period. This is down from the $98 million in profit it reported the prior year.

Net revenue for the quarter was also down year-on-year, at $1.1 billion versus $1.2 billion.

Full-year revenue came in at $3.57 billion, down from $3.8 billion the year prior.

"Electronic Arts delivered outstanding results in fiscal year 2014. Most importantly, we produced hit games, innovative digital content and services, and amazing entertainment for our players around the world," commented EA chief executive Andrew Wilson.

"It was a transformative year for EA in a dynamic year for our industry, and I'm even more excited for the new experiences we will deliver in fiscal year 2015 and beyond."

The firm's chief financial officer, Blake Jorgensen, said "while navigating through a year of tremendous change in the industry, which included a challenging console transition, we were able to exceed revenue guidance, lower our operating expenses, double operating cash flows, and invest in new products and services for the future".