Electronic Arts Posts Higher 4Q Earnings, Revenue
REDWOOD CITY (CBS/AP) – Electronic Arts said Wednesday that its quarterly earnings rose fivefold on strong revenue from online games and titles including “Crysis 2” and “Dragon Age 2.” But its outlook disappointed investors, sending shares lower after-hours.
Electronic Arts Inc. said Wednesday that it earned $151 million, or 45 cents per share, in the January-March period. That’s up from $30 million, or 9 cents per share, in the same period a year earlier.
EA’s adjusted profit of 25 cents per share handily surpassed Wall Street’s expectations. Revenue grew 11 percent to $1.09 billion from $979 million in the fiscal fourth quarter.
For the current fiscal year, Redwood City,-based EA is forecasting adjusted earnings of 70 cents to 90 cents per share, compared with analysts’ average estimate of 85 cents. Shares fell 2 percent in aftermarket trading.
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