On strong growth of digital revenue, Electronic Arts reported strong earnings and beat expectations, sending its stock to a 52-week high. I sat down with CEO John Riccitiello in an exclusive interview about the company's strategy.
There's no question the packaged video game business is struggling — software sales dropped 16 percent in March according to NPD. But Riccitiello says that doesn't speak to the huge growth the industry is seeing — and EA is capitalizing on.
More than a quarter of EA's revenue in the past quarter came from digital platforms — Facebook games, mobile apps and downloads to PCs or game consoles, and that's up 18 percent from a year ago. This helped drive total revenue up 11 percent in the quarter.