Electronic Arts Inc. shares rose in an extended session on Wednesday after video game publisher results exceeded Wall Street expectations.
shares rose 3% after hours, after a 0.1% increase, closing at $ 139.91.
The company reported first-quarter net income of $ 204 million, or 71 cents per share, compared to $ 365 million, or $ 1.25 a year ago.
Revenue rose to $ 1.55 billion from $ 1.46 billion in the prior-year quarter. The company said orders, which account for deferred revenue, increased 3% to $ 6.14 billion.
Analysts interviewed by FactSet estimated earnings at 40 cents per share on earnings of $ 1.46 billion, following EA’s forecast of about 24 cents per share on earnings of about $ 1.48 billion.
“Our new launches, leading games and real-time services were a great quarter,” EA CEO Andrew Wilson said in a statement. “Thanks to our expanding EA Sports portfolio, amazing experience in Apex Legends, the groundbreaking new Battlefield 2042, and our leading real-time services, including mobile, we’re ready to offer players more great games and content this year. ”
EA is known for sports such as “FIFA 21” and “Madden NFL 21”, as well as for action titles such as “Apex Legends”.
“By strengthening this quarter’s strong results and supporting continued confidence in our direct services, we are raising our outlook for the full year,” said Blake Jorgensen, EA’s Chief Financial Officer.
EA estimates second-quarter revenue of about 36 cents on revenue of about $ 1.78 billion and revenue of about $ 1.58 on about $ 6.85 billion.
Analysts forecast second-quarter revenue of $ 1.4 billion and annual revenue of $ 7.12 billion.
EA shares have fallen 4% in the last 12 months, compared to 33% growth in the S&P 500 index
announces on Thursday.