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EA Mobile sees Q1 2013 sales boom up 64% to $113 million

The Simpsons and Real Racing 3 power growth

EA Mobile sees Q1 2013 sales boom up 64% to $113 million
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EA (NASDAQ: EA) has announced its preliminary Q1 financials for the three months ending 30 June 2013.

Net GAAP revenue was $949 million, down 0.6 percent year-on-year.

Net income was $222 million, flat compared to $201 million in the same period in 2012.

EA pointed to the way it's transforming its business with respect to digital sales, however.

These were up 40 percent to $482 million.

Mobile shines

Breaking out its mobile business, sales were $113 million, up 64 percent year-on-year.

Key games included The Simpsons: Tapped Out, which recorded its highest revenue quarter in Q1 since launching in August 2012. It now has over 5.4 million daily active users.

In addition, Real Racing 3 has been downloaded more than 45 million times, averaging over 2 million daily active users.

EA also claimed to be #1 global iOS game publisher during the quarter, although considering it's been out grossed by the likes of Supercell, King and GungHo Online, it's hard to see its justification.

Turning, burning cash

EA ended the quarter with cash, cash equivalents and short-term investments worth $1.4 billion, down from the $1.68 billion it had in the bank on 31 March 2013.

It used $248 million of cash during the quarter.

"EA delivered first quarter EPS above our guidance through a combination of revenue growth, phasing of expenses, and cost control," said Chief Financial Officer Blake Jorgensen.

"We are reaffirming our annual non-GAAP guidance [for FY14] of $4 billion net revenue and $1.20 earnings per share."

[source: EA IR]