Electronic Arts Increases FY16 Guidance

(RTTNews) - Electronic Arts Inc. (EA) announced the company now expects its fiscal 2016 GAAP earnings per share to be approximately $2.32, and non-GAAP earnings per share to be approximately $3.00. The company expects its GAAP net revenue to be approximately $4.400 billion, and non-GAAP net revenue to be approximately $4.500 billion. Earlier, the company projected its fiscal 2016 adjusted earnings to be about $2.85 per share and adjusted revenues to be $4.45 billion.

Electronic Arts also increased its fiscal 2016 operating cash flow guidance by $50 million to $1.200 billion.

For the third-quarter, the company expects: GAAP loss per share to be approximately $0.17; and Non-GAAP earnings per share to be approximately $1.75. The company expects GAAP net revenue to be approximately $1.075 billion, and Non-GAAP net revenue to be approximately $1.775 billion.

For the second-quarter of fiscal 2016, the company reported non-GAAP net revenue of $1.146 billion, and non-GAAP EPS of $0.65.