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Redwood City, California based video game publisher Electronic Arts
released its fiscal Q3 earnings results on Wednesday after the closing bell. The company reported a GAAP loss of $205 million or $0.62 per share, compared to a net loss of $322 million or $0.97 per share, in the year ago period.
On an adjusted basis, which is comparable to analysts' consensus estimates, EA reported a profit of $334 million or $0.99 per share, compared to $196 million or $0.59 per share, in last year's fiscal third quarter.
GAAP revenues at the company were up 1% to $1.06 billion compared to $1.05 billion in last year's corresponding quarter. On a non-GAAP basis, revenue rose 17% to $1.65 billion versus $1.41 billion in last year's Q3.
Electronic Arts exceeded Wall Street estimates on both the top and bottom lines. Analysts had consensus EPS estimates of $0.93 and revenue estimates of $1.61 billion heading into the report.
Looking ahead, EA sees GAAP net revenue between $1.425 billion and $1.475 billion in the fourth quarter and non-GAAP revenue between $925 million to $975 million for the period. GAAP earnings per share are expected between $1.45 to $1.59 while non-GAAP EPS is projected in a range between $0.10 and $0.20. This compares to current consensus EPS estimates of $0.29 on revenue of $983.22 million.
In Wednesday's after hours trading session, EA shares are down 1% after falling as much as 4% earlier.
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