Electronic Arts Q1 Profit Rises

(RTTNews) - Video-game maker Electronic Arts Inc. (EA), Tuesday reported first-quarter net income of $222 million or $0.71 per share, compared to $201 million or $0.63 per share lat year.

On an adjusted basis, net loss for the quarter was $121 million or $0.40 per share, compared to $130 million or $0.41 per share last year. On average, 25 analysts polled by Thomson Reuters expected loss of $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter dropped to $949 million from $955 million last year. Adjusted revenues for the quarter were $495 million compared to $491 million last year. Analysts estimated revenues of $453.75 million for the quarter.

For the full year 2014, the company now expects loss of about $0.98 per share, compared to previous expectation of a loss of about$0.97 per share. The company continues to see adjusted earnings of around $1.20 per share, revenues of about $3.50 billion and adjusted revenues of around $4.00 billion for the full year. Analysts currently estimate earnings of $1.20 per share and revenues of about $4.00 billion for the year.

For the second quarter, the company expects net loss of about $1.22 per share, adjusted earnings of approximately $0.12 per share, revenues of around $625 million and adjusted revenues of about $975 million. Analysts currently estimate earnings of $0.15 per share and revenues of $975.93 million for the quarter.