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EA 4Q Sales Top Street

Electronic Arts (NYSE:EA) revealed a worse-than-expected decline in fourth-quarter profit late Tuesday but its shares climbed as sales topped Wall Street expectations and it pledged to keep operating expenses flat next year in a cost-saving move.The Redwood City, Calif.-based video game maker reported net income of $323 million, or $1.05 a share, compared with a year-earlier profit of $400 million, or $1.20 a share.Excluding one-time items, the Madden and FIFA maker said it earned 55 cents, missing average analyst estimates in a Thomson Reuters poll by two pennies.However, adjusted revenue for the three months ended March 31 was $1.04 billion, slightly ahead of the Street's view of $1.03 billion, a reflection of continued investments in its digital business as more game consoles move to the cloud.EA also says it plans to keep operating expenses flat in fiscal 2014, a move EA Chief Financial Officer Blake Jorgensen calls a "significant achievement in a console transition year."Investors...

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