EA
Written on May 15, 2008
Video game publisher Electronic Arts Inc. says its fiscal fourth-quarter net loss widened on a slew of charges, though adjusted results beat Wall Street’s expectations.
Redwood City, Calif.-based Electronic Arts reported a loss of $94 million, or 30 cents per share, compared with a loss of $25 million, or 8 cents per share, in the same period a year earlier.
Excluding the effects of deferred revenue for online-enabled games, stock-based compensation costs and other items, EA earned $30 million, or 9 cents per share, in the quarter ended March 31.
Revenue jumped 84% to $1.13 billion from $613 million pay day loans. Excluding a benefit from the recognition of deferred revenue, the quarter’s sales were $919 million.
Analysts, on average, expected EA to break even on a per-share basis, with sales of $834.8 million, excluding items, according to a poll by Thomson Financial.
For the fiscal year ending next March, EA (ERTS) forecast earnings of 25 cents to 52 cents per share and adjusted earnings of $1.30 to $1.70 per share. Analysts predict a profit of $1.73 per share.
Filed in: money.