Electronic Art Q3 Loss Widens - Quick Facts

(RTTNews) - Electronic Arts Inc. (EA) Tuesday said third-quarter loss widened to $308 million or $1.00 per share from $45 million or $0.15 per share in the same period last year.

Adjusted earnings for the quarter was $398 million or $1.26 per share. On average, 24 analysts polled by Thomson Reuters expected the company to earn $1.23 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues decreased to $808 million from $922 million last year. Adjusted revenues were $1.57 billion, up from $1.18 billion last year. Analysts expected revenues of $1.66 billion.

For the fourth quarter, the company has forecast earnings of about $0.72 per share, with adjusted earnings of $0.09 per share. Revenues are projected at approximately $1.07 billion, with adjusted revenues of about $800 million.

Analysts currently expect the company to earn $0.10 per share on fourth-quarter revenues of $827.20 million.

Looking ahead to the fiscal year 2014, the company currently expects a loss of $0.42 per share, and has increased its adjusted earnings guidance to $1.30 per share from its previous estimate of $1.25 per share.

Revenues are projected at about $3.52 billion, with adjusted revenues of approximately $3.91 billion. The company earlier expected revenues of approximately $3.55 billion, with adjusted revenues of about $4.00 billion.

Analysts currently expect the company to report full-year earnings of $1.28 per share on revenues of $4.02 billion.