Electronic Arts Beats Wall Street Earnings Estimates; Cuts Full-Year Outlook
Video-game publisher Electronic Arts (NASDAQ: EA) reported second-quarter non-GAAP net income of $49 million, or 15 cents per share, compared to $17 million or five cents per share, in the year ago period. That easily beat Wall Street analysts' consensus EPS estimates of 11 cents.
Revenue was $1.08 billion compared with $1.03 billion last year. This was in-line with Street consensus revenue estimates. The results were released Tuesday afternoon
Looking ahead to Q3, the company said that it expects non-GAAP earnings per share of 50 cents to 60 cents on revenues of $1.25 billion to $1.35 billion. This is below current consensus calling for EPS of 71 cents revenue of $1.39 billion.
For the full-year, the company lowered its guidance. Electronic Arts now expects non-GAAP earnings per share of $1.00 to $1.15 on revenue of $4.05 billion to $4.20 billion. Previously, non-GAAP earnings per share were expected to be between $1.05 to $1.20 on revenue of $4.10 billion to $4.25 billion. Analysts expect the company to report full-year EPS of $1.05 on revenue of $4.13 billion.
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