Electronic Arts Earnings Beat but Guidance Disappoints
Electronic Arts reported quarterly earnings and revenue thatbeat analysts' expectation on Wednesday, though its outlook fell short and shares fell in after-hours trading.
The videogame maker delivered fiscal third-quarter earnings excluding items of 99 centsper share, up from 59 cents a share in the year-earlier period.
Revenue was $1.65 billion, a 17 percent increase from $1.41 billion a year ago. The increase was supported by sales of the company's latest product: 'Star Wars: The Old Republic'.
Analysts had expected the company to report earnings excluding items of 93 cents per share on revenue of $1.61 billion, according to Thompson Reuters.
The company's guidance for the current quarter, which ends March 12, fell short of expectations. The company pegs earnings excluding items between 10 and 20 cents a share, shy of the 29 cents analysts expect. The company expects revenue between $925 million and $975 million — analysts currently expect $983 million.
After the announcement, shares of the company fell in after-hours trading.Get after-hour quotes for Electronic Arts here.