Electronic Arts profit surpasses Wall Street expectations

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SAN FRANCISCO – game publisher Electronic Arts Inc (EA.O) reported better-than-expected and for the first quarter, driven by robust sales of titles such as “Titanfall,” digital and cost control.

“On the digital side, (we saw) great continued growth on mobile and PC full game downloads and our subscriptions business all of those up dramatically,” CFO Blake Jorgensen said in an .

such as “Ultimate Fighting Championship,” soccer title “” and shooter game “Titanfall” were strong drivers, Jorgensen said. For the three months ended June 30, non-GAAP rose about 57 percent to $775 million a year ago, exceeding Wall Street analysts’ estimates of $713.2 million, according to Thomson-Reuters I/B/E/.

Non-GAAP net income rose to $61 million, or 19 cents per share, a loss of $121 million, or 40 cents per share, a year ago. This also surpassed analysts’ expectations of a net loss of 4 cents per share.

Electronic Arts shares were relatively unchanged after closing at $38.42 on the Nasdaq on . [eap_ad_2] BATTLEFIELD DELAY

The Redwood , California-based said on postponed the launch of the annual edition of its military-style shooter game “Battlefield” to early next year.

The launch of “Battlefield: Hardline” previously planned for this year’ holiday shopping period. has been delayed to incorporate new features based on player feedback on its test version, executives told analysts on an earnings call.

The also said the release of role-playing game “Dragon Age: Inquisition” has been moved forward six weeks to Nov. 18 in America. The reaffirmed its previous forecast of non-GAAP of $4.1 billion and earnings per share of $1.85 in the fiscal year ending March 2015.

game industry software sales, which lagged in April and June, are seeing a boost as for the Xbox One and PlayStation 4 devices, which were launched last holiday, gain steam. But sales of titles for older consoles, which have a larger install base, continue to slip.

“We’re right now at that place we’re still seeing headwinds,” Jorgensen said.

Sales of the Microsoft Corp’ (MSFT.O) Xbox One and Sony Corp’(6758.T) PlayStation 4 have been running 90 percent higher than their older versions, Jorgensen said.

Electronic Arts’ shares have soared about 30 percent since launched its Xbox exclusive sci-fi shooter game “Titanfall” on March 11.

The is on track to launch a new iteration of its -building “Sims” game later this year and annual installments of its “” and “Madden” franchises. (Reuters)[eap_ad_3]