Electronic Arts Falls Despite Strong Results From 'FIFA 17'
Electronic Arts Inc. reported better-than-expected earnings Tuesday and increased its revenue guidance for the full year, but shares still fell as the video game publisher's projection for the holiday quarter came in slightly below analysts' projections. EA reported a loss of 13 cents a share on sales of $898 million, which does not include a change in deferred revenue of $200 million. Analysts polled by FactSet expected on average for EA to report a loss of 14 cents a share with those combined revenue metrics totaling $1.086 billion. EA also increased its full-year revenue guidance to $4.775 billion, not counting changes in deferred revenue, and credited the strong performance of its "FIFA 17" soccer game for the change. For the holiday quarter, EA said it expects $1.125 billion in net revenue and $910 million in changes to deferred revenue, for a total of $2.04 billion; FactSet reported that analysts on average projected that total to be $2.08 billion. EA shares fell between 1% and 3% in late trading after the report was released.
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