Electronic Arts Earnings: Beat Wall Street, But Shareholders Not Impressed
S&P 500 (NYSE:SPY) component Electronic Arts Inc. (NASDAQ:ERTS) reported its results for the fourth quarter. Electronic Arts Inc. develops and distributes video game software and content across a variety of platforms.
Electronic Arts Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for the company was $151 million (45 cents/share).
Actual vs. Wall St. Expectations: ERTS beat the mean analyst estimate of 22 cents/share. Estimates ranged from 10 cents per share to 25 cents per share.
Quoting Management: “We’re happy to report another strong quarter, top and bottom line. We’re particularly proud of the scale and growth rate of our digital business,” said John Riccitiello, CEO. “EA is building its digital business in a way only EA can, with key brands performing well cross-platform from mobile, to social to console.”
Competitors to Watch: Activision Blizzard, Inc. (NASDAQ:ATVI), THQ Inc. (NASDAQ:THQI), Take-Two Interactive Software, Inc. (NASDAQ:TTWO), Microsoft Corporation (NASDAQ:MSFT), KONAMI CORPORATION (NYSE:KNM), Majesco Entertainment Co. (NASDAQ:COOL), Sony Corporation (NYSE:SNE), Nintendo Co., Ltd (NTDOY), The Walt Disney Company (NYSE:DIS), and Glu Mobile Inc. (NASDAQ:GLUU)
Stock Performance: Shares of ERTS are trading at $19.92 as of May 4, 2011 at 4:36 PM ET, down 1.2% from the previous closing price of $20.16.