Earnings: Electronic Arts Revs Up Strong; Net Income Passes Estimates

This story was written by Joseph Weisenthal.
With a hostile bid for Take-Two still out there, video game maker Electronic Arts (NSDQ: ERTS) has reported quarterly revenue of $1.12 billion, an 84 percent rise from $613 million in the year-ago quarter. Adjusted net income, which excludes acquisition-related charges, was $30 million ($.09 per share) compared to $19 million ($.06 per share) in the year-ago quarter. Analysts had been looking for a breakeven quarter, so this looks like a solid beat. For the full year the company is forecasting revenue of $4.9-$5.15 million and adjusted earnings per share of $1.30-$1.70. The announcement doesn't say anything on the Take-Two matter, though that will come up on the call.

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By Joseph Weisenthal