Electronic Arts Reports Decent Fiscal Q2 Results (ERTS)

Video game maker Electronic Arts (Nasdaq: ERTS) reported fiscal second-quarter results of 6 cents in per share earnings on sales of $1.15 billion. The top-line number narrowly beat Street estimates.

The company expects full-year earnings to be between 70 cents and $1 a share and that has the shares moving sharply higher in after-hours trading. Electronic Arts also announced it plans to cut costs by $100 million and that it acquired Playfish, a social gaming firm, for $275 million.