REDWOOD CITY, Calif. — REDWOOD CITY, Calif. — Electronic Arts Inc. (EA) on Tuesday reported fiscal first-quarter net income of $280 million.
On a per-share basis, the Redwood City, California-based company said it had profit of $1.04. Earnings, adjusted for one-time gains and costs, were 52 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The video game maker posted revenue of $1.66 billion in the period. Its adjusted revenue was $1.26 billion, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $1.21 billion.
For the current quarter ending in September, Electronic Arts said it expects revenue in the range of $1.95 billion to $2.05 billion.
The company expects full-year earnings to be $3.34 to $4 per share, with revenue ranging from $7.3 billion to $7.7 billion.
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