EA results surpass Street view

 @ibtimes
on August 04 2009 5:08 PM

Electronic Arts Inc reported better-than-expected results on strong sales of The Sims and reaffirmed its fiscal 2010 forecast, sending shares up nearly 4 percent on Tuesday.

The video game publisher posted a net loss of $234 million, or 72 cents a share, in its fiscal first quarter ended June 30, versus a net loss of $95 million, or 30 cents a share last year.

Excluding items, Electronic Arts reported a loss of 2 cents a share, better than the average analyst estimate of a loss of 12 cents a share, according to Reuters Estimates.

Revenue fell to $644 million, but non-GAAP revenue rose 34 percent to $816 million, ahead of Wall Street's forecast for $735.7 million.

The company reaffirmed its fiscal 2010 forecast for earnings excluding items of $1 a share on non-GAAP revenue of $4.3 billion.

Shares of Redwood City, California-based Electronic Arts are up about 35 percent this year. Its shares closed at $21.89 on the Nasdaq and rose to $22.80 in extended trading.

(Reporting by Gabriel Madway. Editing by Robert MacMillan)

Share this article