REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Electronic Arts Inc. (EA) on Monday reported fiscal first-quarter profit of $397 million.
The Redwood City, California-based company said it had net income of $1.56 per share. Earnings, adjusted for one-time gains and costs, were 20 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The video game maker posted revenue of $1.99 billion in the period. Its adjusted revenue was $1.35 billion, also missing Street forecasts. Four analysts surveyed by Zacks expected $1.49 billion.
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