Electronic Arts Inc., maker of the Battlefield Hardline video game, reported first-quarter sales and profit that beat analysts’ estimates, benefiting from rising online play. The company’s forecast fell short.
Profit excluding some items totaled 15 cents a share in the period ended June 30, the Redwood City, California-based company said Thursday in a statement. That exceed the 3-cent average of 20 analysts’ estimates.
The company has segued from a creator of packaged video games to one that generates more of its revenue online. Monthly active users of EA’s mobile games averaged more than 150 million in the quarter, the company said.
Adjusted sales for the period amounted to $693 million, beating analysts’ forecasts of $652.9 million, the average of 19 estimates compiled by Bloomberg. On an adjusted basis, Electronic Arts had profit of 19 cents and revenue of $775 million a year earlier.
For the current quarter, Electronic Arts forecasts profit of 40 cents a share excluding items, with revenue of $1.08 billion on that basis. Analysts forecast 40 cents and sales of $1.1 billion.
(The company plans a conference call at 5 p.m. New York time. Listen at http://ir.ea.com)