Electronic Arts recently reported its fiscal first-quarter earnings today, exceeding analyst expectations.
The company recorded a profit of $221 million, or 66 cents a share, on revenues of $999 million, compared to the year earlier when it recorded a profit of $96 million on revenues of $815 million.
The Redwood City, Calif.-base game maker said strong sales of shooting games such as "Portal 2" and "Crysis 2" helped propel revenue for the quarter. The company also said brisk sales of sports games, such as "FIFA 11" and "Tiger Woods PGA Tour 12: The Masters," helped its performance.
Looking ahead to the second quarter, EA raised its adjusted earnings per share guidance by 2 cents and now sees a loss of between 13 cents and 3 cents a share and forecast adjusted revenue between $925 million to $975 million. Analysts polled by Thomson Reuters expected $900 million.
EA has said it expects to release the Star Wars game near Christmas. The highly ambitious title is designed to take on Activision Blizzard Inc.’s World of Warcraft, whose 12 million subscribers make it one of the industry’s most profitable games.
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