Videogame publisher Electronic Arts Inc raised its 2015 forecast and reported stronger-than-expected second-quarter results on Tuesday, on cost controls and strong digital sales from titles including “FIFA” and “Madden.”<\/p>\n
The Redwood City, California-based company said it expects $4.18 billion in non-GAAP revenue and non-GAAP net income of $2.05 per share in fiscal 2015. It had previously forecast $4.1 billion in revenue and $1.85 per share in profit.<\/p>\n
Electronic Arts is seeing “continued growth of generation 4 console (Xbox One and PlayStation 4) and still solid results in our older console business as well,” Chief Financial Officer Blake Jorgensen said in an interview.<\/p>\n
“The digital side of the business, full-game downloads as well as digital services around those businesses like ‘FIFA Ultimate Team’ and ‘Madden Ultimate Team’ are continuing to perform well above our expectations.”<\/p>\n
For the three months ended Sept. 30, the company posted non-GAAP revenue of $1.22 billion, compared with $1.04 billion a year ago. Wall Street analysts had estimated revenue of $1.16 billion, according to Thomson-Reuters I\/B\/E\/S.<\/p>\n
Non-GAAP net income rose to $232 million, or 73 cents per share, from $105 million or 33 cents per share a year ago. Analysts had forecast earnings of 53 cents per share.<\/p>\n
Electronic Arts shares were up 2 percent in after-hours trading, after closing at $37.48 on the Nasdaq.<\/p>\n
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