Electronic Arts sees increased profit

No. 1 video game publisher Electronic Arts Inc. posted a larger fiscal third-quarter profit on Wednesday, driven by sales of new games based on movie series like "James Bond" and "Harry Potter."

Redwood City, California-based EA reported a net profit of $250 million, or $1.69 per share, compared with a year-earlier net profit of $132.3 million, or 92 cents per share.

Revenue in the December quarter, the most important in the video game industry, was $1.23 billion, compared with $832.9 million a year ago.

The average estimate of analysts surveyed by Wall Street tracking firm Thomson First Call was for earnings per share of $1.57, with a range of estimates of $1.39 to $1.65, on revenue of $1.13 billion.

EA also said it expects to report earnings per share in the current quarter, its fiscal fourth, of 27 cents to 35 cents before charges.

News source: Reuters

Previous Story
Court tosses out suit against Rambus
Next Story
Yahoo to offer subscription radio service