Electronic Arts Inc. Beats Q2 EPS Views; Boosts Outlook

Electronic Arts Inc.

beat profit expectations for its fiscal second quarter and boosted its outlook for 2015 results. The Redwood City, Calif., game developer's shares gained 2.5 percent in the extended session recently to $38.42 a share. Electronic Arts expects third-quarter adjusted earnings of $0.90 cents a share, on net revenue of $1.28 billion. Wall Street expects adjusted earnings of $0.86 cents a share on revenue of $1.3 billion. The company boosted its adjusted 2015 adjusted earnings outlook to $2.05 a share, from $1.85; it also raised its adjusted revenue outlook to $4.175 billion from $4.1 billion. Wall Street expected $1.92 a share, on $4.16 billion. In the recent period, the company swung to net profits of $3 million or $0.01 cent a share, from a year-earlier loss of $273 million, or $0.89 cents a share. Adjusted earnings were $0.73 cents, versus $0.33 cents a year earlier. Net revenue grew to $990 million, from $695 million. Wall Street expected adjusted earnings of $0.53 cents a share, on revenue of $1.16 billion. GAAP net revenue is expected to be approximately $1.100 billion. Non-GAAP net revenue is expected to be approximately $1.275 billion.