Electronic Arts Rises After Reporting Strong Close To Fiscal Year

By Markets MarketWatch Pulse

Electronic Arts Inc. gained after reporting better-than-expected quarterly profit and revenue Tuesday. The video game publisher said it recorded profit of $899 million, or $2.79 per share, on revenue of $1.31 billion in its fiscal fourth quarter; after adjustments, EA claimed earnings of 50 cents a share on sales of $924 million. Analysts on average expected adjusted earnings of 42 cents a share on sales of $889 million, according to FactSet. EA predicted the current fiscal year will produce adjusted earnings of $3.50 a share on sales of $4.9 billion, also topping average analyst projections. EA stock added more than 5% in late trading, rising to near $68 after closing with a slight gain of 2 cents at $64.54.

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