Scalper1 News
Video game publisher Electronic Arts (EA) spiked to a 10-year high on Wednesday after posting better-than-expected March quarter results and giving bullish guidance. A flurry of Wall Street analysts raised their price targets on the news. The Redwood City, Calif.-based company earned 39 cents a share excluding items on sales of $896 million in its fiscal Q4 ended March 31. On a year-over-year basis, earnings per share were down 19% and sales down 2%. But analysts polled by Thomson Reuters expected EA to earn 25 cents a share on sales of $850 million. “Two years ago, we discussed a three-year plan to double non-GAAP operating margins to 20%,” Chief Financial Officer Blake Jorgensen said in a statement late Tuesday. “Today, I’m happy to announce that we exceeded our goal a full year ahead of schedule. Looking forward, we anticipate continued earnings growth driven by our strong portfolio, investment in new… Scalper1 News
Scalper1 News