Scalper1 News
Electronic Arts stock soared to a seven-year high on Wednesday after posting strong holiday-quarter sales for its console video games. The Redwood City, Calif.-based game publisher late Tuesday reported fiscal third-quarter earnings of $1.22 a share, excluding items, on sales of $1.43 billion. On a year-over-year basis, earnings per share were down 3% and sales down 9%, but the results beat Wall Street expectations. Analysts polled by Thomson Reuters expected EA to earn 92 cents a share on sales of $1.29 billion. EA’s (EA) results were aided by strong sales of sports games like “Madden NFL 15” and “FIFA 15,” as well as digital downloads and mobile phone games. “Our excellent financial results reflect the strong player engagement and critical success of our titles,” EA CEO Andrew Wilson said on a conference call with analysts. EA forecast a fiscal fourth-quarter profit of 22 cents a share, which was below the … Scalper1 News
Scalper1 News