Market Overview

Electronic Arts Beats FQ1 Forecasts; Offers In-Line Outlook

Electronic Arts (NASDAQ: EA) beat fiscal first-quarter forecasts and offered an in-line outlook, citing strong revenue growth, wider margins and lower expenses.

The computer game company's profits grew to $335 million, or an adjusted $0.19, from a year-earlier $222 million, or an adjusted loss of $0.40 per share.

Revenue increased 69 percent to $1.21 billion from $949 million last year. Analysts expected a loss of $0.04 per share on revenue of $713.2 million.

The company forecast fiscal second-quarter adjusted earnings of $0.50 per share on adjusted revenue of $965 million. Analysts expect $0.51 on revenue of $1.14 billion.

Net revenue in the current quarter will include an additional $175 million from a change in deferred net revenue from online-enabled games, the company said.

Electronic Arts traded after-hours recently at $38.55, up 0.34 percent.

Posted-In: Earnings News Guidance After-Hours Center

 

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