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Electronic Arts climbs on 4Q results and forecast

NEW YORK (AP) -- Shares of Electronic Arts climbed in late trading Tuesday after the video game maker posted strong results in its fiscal fourth quarter and gave a solid outlook for the current year.

The maker of "The Sims," ''Madden NFL," ''EA Sports FIFA" and other franchises reported greater income and more revenue than Wall Street expected. Electronic Arts also said it will buy back up to $750 million in stock, and it forecast stronger-than-expected net income in the new fiscal year.

Electronic Arts Inc. stock rose $4.35, or 15.5 percent, to $32.40 aftermarket after declining 2.5 percent during regular trading.

The Redwood City, California, company said its net income grew 14 percent to $367 million, or $1.15 per share, from $323 million, or $1.05 per share. Excluding one-time charges, Electronic Arts said it earned 48 cents per share over the three months that ended March 31. Its revenue fell 7 percent, to $1.12 billion from $1.21 billion. Excluding deferred revenue from online-enabled games, the company said revenue fell to $914 million.

FactSet says analysts expected net income of 11 cents per share and $812.4 million in revenue.

Electronic Arts said its adjusted income more than doubled in fiscal 2014, to $534 million, or $1.69 per share, from $264 million, or 84 cents per share. Adjusted revenue rose 6 percent to $4.02 billion.

The company is forecasting an annual profit of $1.85 per share excluding one-time items and $4.1 billion in adjusted revenue.

Analysts expect $1.53 per share and $4.11 billion in revenue on average.