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Game sales strong for EA but outlook hurts shares
NEW YORK — Video game publisher Electronic Arts Inc. said Tuesday that strong sales of games such as "Battlefield: Bad Company 2" and "Mass Effect 2" gave the company a quarterly profit above expectations. But its outlook fell short of Wall Street's forecast, and its shares slumped in after-hours trading. Electronic Arts, which also has "The Sims" and "Madden" games, said it earned $30 million, or 9 cents per share, in the quarter that ended March 31, its fiscal fourth. In the comparable period last year it lost $42 million, or 13 cents per share. Revenue rose 14 percent to $979 million from $860 million. EA's adjusted earnings of 9 cents per share and revenue of $850 million handily surpassed Wall Street's expectations of a profit of 5 cents per share on revenue of $835.4 million. Adjusted results exclude special items and account for deferred revenue from games with online components. |