Electronic Arts Shares Fall After First-quarter Results

Shares of Electronic Arts Inc. were falling 3% after hours Thursday after the company reported first-quarter earnings, but included a second-quarter forecast that disappointed. It reported net income of $644 million, or $2.06 per share, up from $440 million, or $1.40 per share, in the year-earlier period. The FactSet GAAP consensus was for earnings per share of $1.90. Net revenue was $1.45 million, up from $1.27 million in the year-earlier period. The FactSet consensus for total revenues was $1.43 million. For the second quarter, it expects net revenue of $955 million, with a net loss of $57 million and a loss per share of 18 cents. Analysts surveyed by FactSet had expected a GAAP loss per share of six cents and total revenue of $990 million. Shares of Electronic Arts have gained 25% in the past three months, outperforming the S&P 500 which has gained 4%.