Electronic Arts: Fiscal 2Q Earnings Snapshot

REDWOOD CITY, Calif. (AP) _ Electronic Arts Inc. (EA) on Tuesday reported fiscal second-quarter net income of $255 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Redwood City, California-based company said it had profit of 83 cents. Earnings, adjusted for one-time gains and costs, were 98 cents per share.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The video game maker posted revenue of $1.29 billion in the period. Its adjusted revenue was $1.22 billion, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $1.18 billion.

For the current quarter ending in January, Electronic Arts expects its per-share earnings to be 61 cents.

The company said it expects revenue in the range of $1.73 billion for the fiscal third quarter.

Electronic Arts expects full-year earnings to be $3.11 per share, with revenue expected to be $5.2 billion.

Electronic Arts shares have fallen 10 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Tuesday, shares hit $94.26, a decrease of 19 percent in the last 12 months.

_____

This story was 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