Electronic Arts Nears Five-Year High After Beating Estimates
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Electronic Arts Inc., the second-largest U.S. video-game maker, rose to an almost five-year high after growth in sales of Web-delivered titles led to a smaller-than-projected first-quarter loss.
The loss, excluding some items, totaled 40 cents a share, Redwood City, California-based Electronic Arts said yesterday in a statement. That compares with the average analyst estimate of a 60-cent loss, according to data compiled by Bloomberg. Sales before changes in deferred revenue rose less than 1 percent to $495 million, topping the $454 million projection.