Electronic Arts Inc. (NASDAQ: EA) reported its fiscal second-quarter results after the market close on Monday as $0.73 in earnings per share and $1.22 billion in revenue, against Thomson Reuters consensus estimates of $0.53 in earnings per share and $1.16 billion in revenue. The second-quarter from the previous year had earnings of $0.33 per share and $1.04 billion in revenue.
The company gave guidance for the 2014 full year of $2.05 in earnings per share and $4.175 billion in revenue. The consensus estimates are $1.92 in earnings per share and $4.16 billion in revenue.
Net income was $232 million for the third quarter compared to $105 million from the same period in the previous year.
This game developer should benefit from not only the continuing rise in new console sales, but the rising trend of mobile gaming. The company produces top-selling games and related content and services under the EA brand in various categories, including action-adventure, role-playing, racing and first-person shooter games.
Calendar year to date, EA continues to be the number one publisher on both the Xbox One and PlayStation 4 consoles in the Western World. In the second quarter, EA’s players logged over 1.9 billion hours of game play on consoles and PCs.
EA has made the move into mobile play by adapting many of the top franchise titles, which have been popular for years, into the mobile arena. Monthly active users (MAUs) for EA’s mobile titles averaged over 155 million in the second quarter.
CEO Andrew Wilson said:
Electronic Arts continues to put our players first, delivering new experiences, innovation and new ways to play. It was an excellent second quarter, with strong new titles, deep player engagement in our live services and ongoing digital growth driving continued momentum.
Zacks reiterated an Outperform rating for EA with a $45 price target, on September 1.
Shares of EA closed Monday up 1.65% at $37.48. Following the earnings report, the initial reaction in the post market has been positive, and shares were up over 2% at $38.44.
The stock has a consensus analyst price target of $41.98 and a 52-week trading range of $20.47 to $38.64. The market cap is over $11 billion.
ALSO READ: 10 Best Technology Companies to Work For
Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.