REDWOOD CITY, Calif. (AP) _ Electronic Arts Inc. (EA) on Thursday reported fiscal third-quarter profit of $346 million.
The Redwood City, California-based company said it had net income of $1.18 per share. Earnings, adjusted for non-recurring costs and stock option expense, came to $2.79 per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.
The video game maker posted revenue of $1.59 billion in the period. Its adjusted revenue was $1.98 billion, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $1.96 billion.
For the current quarter ending in March, Electronic Arts expects its per-share earnings to be $1.05.
The company said it expects revenue in the range of $1.33 billion for the fiscal fourth quarter.
Electronic Arts expects full-year earnings to be $9.90 per share, with revenue expected to be $5.48 billion.
Electronic Arts shares have risen roughly 4% since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 2%. In the final minutes of trading on Thursday, shares hit $111.66, an increase of 25% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EA at https://www.zacks.com/ap/EA
Automated Insights, source Associated Press News