Electronic Arts has announced record profits for the fiscal year 2004 with its European arm generating over $1 billion. Total profit for the end of the financial year is a staggering $2.96 billion, roughly a 19% increase on the previous year's revenue. Net income for the year was $577 million. Phew!

Over the past year, 27 EA titles sold more than a million copies each worldwide, including Need For Speed: Underground, FIFA 2004, 007: Everything or Nothing and the various Lord of the Rings games.

"This was another outstanding year for EA," said Larry Probst, Chairman and Chief Executive Officer. "We delivered record revenue, 27 platinum titles and record net income. We enter our next fiscal year with excellent momentum."

"We look forward to the year ahead," said Warren Jenson, Chief Financial and Administrative Officer. "We expect to once again deliver a strong performance while at the same time investing in new technologies for the future."