Home Daily Blitz Thanks Star Wars: Electronic Arts Beats Quarterly Profit Estimates
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Thanks Star Wars: Electronic Arts Beats Quarterly Profit Estimates

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forbes articleThe following is an excerpt from Lauren Gensler | January 28, 2016 | Forbes.com |

As expected, Star Wars mania is proving to be a real boon for Electronic Arts EA +0.00%.

The video game company beat estimates on its bottom line in its fiscal third quarter, helped by demand for Star Wars Battlefront.

Electronic Arts said it sold 13 million copies of Star Wars Battlefront during the fiscal year year ending December 31, well above its previous forecasts.

The company also saw continued success with its FIFA, Madden NFL and Hockey Ultimate Team TISI +% titles, with live service revenue climbing 13% in the quarter from the same period a year ago.

This strength helped the company post adjusted earnings of $1.83 per share, above analyst estimates of $1.81 per share.

However, shares of Electronic Arts were tumbling in after-hours trading, after the company missed top line estimates and gave a worse-than-expected outlook for its current quarter.

During the fiscal third quarter, adjusted revenue grew 26% to $1.8 billion, but was shy of estimates of $1.81 billion. In the fourth quarter, revenue is expected to be approximately $875 million, below estimates of $915 million. Per-share earnings are projected at 40 cents, also below analyst estimates of 50 cents.

For more visit: Forbes.com

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