May 9 Video-game publisher Electronic Arts Inc
forecast current-quarter revenue below analysts'
estimates on Tuesday, and announced a new $1.2 billion buyback
The company forecast first quarter adjusted revenue of $750
million, slightly below analysts' average estimate of $758.7
million, according to Thomson Reuters I/B/E/S.
EA's revenue rose 16.7 percent to $1.53 billion in the
fourth quarter ended March 31.
Sales from EA's digital business surged 30.6 percent to $934
million, as players increasingly buy games online rather than
physical copies at retail stores.
On an adjusted basis, revenue was $1.09 billion, in line
with analysts' average estimate, according to Thomson Reuters
Videogame companies are required to defer some revenue from
certain online-enabled games following a tweak to the U.S.
EA's profit fell to $566 million, or $1.81 per share, from
$899 million, or $2.79 per share, a year earlier.
(Reporting by Anya George Tharakan in Bengaluru; Editing by