Electronic Arts Swings To Profit; Lifts FY Guidance - Quick Facts

(RTTNews) - Video game maker Electronic Arts Inc (EA) Tuesday reported second-quarter net earnings of $3 million or $0.01 per share compared with a loss of $273 million or $0.89 per share last year.

Excluding change in deferred revenues and other items, adjusted earnings for the quarter were $0.73 per share compared with $0.33 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.53 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter rose to $990 million from $695 million last year.

Revenues, excluding change in deferred revenues, totaled $1.22 billion for the quarter, up from $1.04 billion in the prior year. Analysts estimated revenues of $1.16 billion for the quarter.

Looking ahead to the third quarter, the company expects adjusted earnings of $0.90 per share and adjusted revenues of $1.28 billion. Analysts expect earnings of $0.86 per share on revenues of $1.30 billion.

For the full year, Electronic Arts now projects adjusted earnings of $2.05 per share and adjusted revenues of $4.18 billion. It earlier expected earnings of $1.85 per share and revenues of $4.1 billion.

Analysts expect earnings of $1.92 per share on revenues of $4.16 billion for the year.