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Electronic Arts: Fiscal 2Q Earnings Snapshot

·1 min read

REDWOOD CITY, Calif. (AP) _ Electronic Arts Inc. (EA) on Thursday reported fiscal second-quarter profit of $185 million.

On a per-share basis, the Redwood City, California-based company said it had net income of 63 cents. Earnings, adjusted for one-time gains and costs, were 29 cents per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The video game maker posted revenue of $1.15 billion in the period. Its adjusted revenue was $910 million, missing Street forecasts. Nine analysts surveyed by Zacks expected $955.6 million.

For the current quarter ending in January, Electronic Arts said it expects revenue in the range of $2.35 billion.

The company expects full-year earnings to be $3.15 per share, with revenue expected to be $5.95 billion.

Electronic Arts shares have risen 19% since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 9%. In the final minutes of trading on Thursday, shares hit $128.33, an increase of 31% in the last 12 months.

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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