Game company Electronic Arts posts 1Q profit

Aug 03, 2010

(AP) -- Video game publisher Electronic Arts said Tuesday that it earned a net income in the latest quarter, reversing a loss a year earlier as revenue grew sharply.

Electronic Arts Inc. said Tuesday its totaled $96 million, or 29 cents per share in its fiscal first quarter, which ended in June. In the same period last year EA's net loss was $234 million, or 72 cents per share.

The company behind "Madden" and "The Sims" said net revenue rose 27 percent to $815 million from $644 million.

EA's adjusted results easily surpassed Wall Street's expectations. These exclude special items and account for deferred revenue from games with online components.

EA, which is based in Redwood City, Calif., is also affirming its guidance for the full .

Shares of the company rose 75 cents, or 4.6 percent, to $16.93 in extended trading Tuesday after the release of results. In regular trading earlier, shares fell 32 cents, or 1.9 percent, to close at $16.18.

Explore further: EU Parliament votes to break up Google

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Game sales strong for EA but outlook hurts shares

May 11, 2010

(AP) -- Video game publisher Electronic Arts Inc. said Tuesday that strong sales of games such as "Battlefield: Bad Company" and "Mass Effect 2" gave the company a quarterly profit above expectations. But its outlook fell ...

EA 1Q loss widens but results surpass expectations

Aug 04, 2009

(AP) -- Lower revenue from packaged video games amid a seasonal slump for the industry gave Electronic Arts Inc. a larger net loss in its fiscal first quarter. But investors cheered as its adjusted results ...

Electronic Arts lowers 2010 guidance as sales weak

Jan 11, 2010

(AP) -- Video game publisher Electronic Arts Inc. cut its full-year guidance on Monday, as ongoing weakness in its game disc sales didn't ease up over the holidays as the company had hoped.

EA posts smaller 4Q loss as costs decline

May 05, 2009

(AP) -- Video game publisher Electronic Arts Inc. posted a smaller net loss Tuesday for its fiscal fourth quarter as it further slashed costs in a quarter that had fewer hit game launches.

TI 2Q revenue rises 42 pct as demand roars back

Jul 19, 2010

(AP) -- Texas Instruments Inc.' second-quarter income and revenue jumped as demand continued to recover after the recession. The company predicted even better results in the new quarter.

Activision 1Q profit up, shoots past expectations

May 06, 2010

(AP) -- Continued strong sales of "Call of Duty" and a steady stream of revenue from "World of Warcraft" subscribers helped double Activision Blizzard Inc.'s first-quarter net income.

Recommended for you

EU Parliament votes to break up Google

Nov 27, 2014

The European Parliament voted overwhelmingly for the break-up of Google Thursday in a largely symbolic vote that nevertheless cast another blow in the four-year standoff between Brussels and the US Internet ...

Toyota finds new air bag issue, recalls more cars

Nov 27, 2014

Toyota Motor Corp. recalled more than 40,000 vehicles in Japan on Thursday as part of a worldwide scare over defective air bags and is investigating a new type of air bag problem that could lead to further recalls.

Netflix sues Yahoo CIO for alleged kickbacks

Nov 26, 2014

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.