Electronic Arts beats 4Q profit forecasts

Markets Associated Press

Electronic Arts Inc. on Tuesday reported fiscal fourth-quarter earnings of $566 million, surpassing Wall Street's expectations.

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On a per-share basis, the Redwood City, California-based company said it had net income of $1.81. Analysts, on average, had expected earnings of $1.63 per share, according to a poll by FactSet.

The video game maker posted revenue of $1.53 billion in the period, up from $1.31 billion a year earlier. Analysts were expecting revenue of $1.49 billion.

For the year, the company reported profit of $967 million, or $3.08 per share. Revenue was reported as $4.85 billion.

For the current quarter ending in July, Electronic Arts expects its per-share earnings to be $1.93.

The company said it expects revenue in the range of $1.43 billion for the fiscal first quarter.

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Electronic Arts expects full-year earnings to be $3.57 per share, with revenue expected to be $5.08 billion.

The company's stock rose more than 5 percent in extended trading following the release of the earnings report.

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Elements of this story were generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on EA at https://www.zacks.com/ap/EA

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Keywords: Electronic Arts, Earnings Report

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This story has been corrected to remove references to adjusted results and to compare the company's non-adjusted results with non-adjusted estimates from FactSet. On that basis, the company's earnings and revenue exceeded, rather than fell short, of Wall Street estimates. The full-year revenue number was corrected to read $4.85 billion, not $4.75 billion.