Electronic Arts posts higher 3Q revenue, narrows loss
REDWOOD CITY, Calif. (AP) — Electronic Arts Inc. on Tuesday reported a net loss of $1 million in its fiscal third quarter, smaller than the $45 million loss it reported a year earlier.
The Redwood City, California-based company said it had a loss of less than 1 cent on a per-share basis, compared with 14 cents per share a year ago.
The video game maker posted revenue of $1.15 billion in the period, up from $1.07 billion in the year-ago quarter. Its adjusted revenue was $2.07 billion, exceeding Street forecasts. Five analysts surveyed by Zacks expected $2.06 billion.
For the current quarter ending in March, Electronic Arts said it expects revenue in the range of $1.48 billion.
The company expects full-year earnings to be $2.91 per share, with revenue expected to be $4.8 billion.
Electronic Arts shares have climbed roughly 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 2 percent. In the final minutes of trading on Tuesday, shares hit $83.43, a climb of 30 percent in the last 12 months. In after-hours extended trading, the stock shed $1.42 to $82.50.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EA at https://www.zacks.com/ap/EA
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