Electronic Arts Down 10% After Q4 Earnings
Electronic Arts (NASDAQ: EA) released its fiscal fourth-quarter earnings results after the closing bell on Monday. The Redwood City, California company reported fourth-quarter net income of $400 million or $1.20 per share, compared to $151 million or $0.45 per share, in last year's corresponding quarter.
On an adjusted basis, net income was $56 million or $0.17 per share, compared to $83 million or $0.25 per share, in last year's fourth-quarter. This compared to Wall Street analysts' consensus EPS estimates of $0.16.
Revenues for the quarter were $995 million versus $524 million last year. This compared to analysts' consensus revenue estimates of $958.54 million.
Looking ahead to the fiscal first-quarter, Electronic Arts said that it expected an adjusted net loss of $0.45 to $0.40 and adjusted revenues of roughly $500 million. This compares to consensus EPS estimates of ($0.33) on revenues of $577.91 million.
For the full-year 2013, Electronic Arts guided for adjusted net earnings of $1.05 to $1.20 on adjusted revenues of $4.30 billion. This compares to the Wall Street analysts' current consensus EPS estimates of $1.12 per share on revenues of $4.50 billion.
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