Tech stocks advanced Friday, on a smattering of earnings news.
Shares of Electronic Arts(ERTS Quote) were climbing 2.9% after beating fiscal second-quarter estimates. Excluding charges, the company earned 27 cents a share, surpassing the consensus 20 cents a share.
For the third quarter, the company sees revenue, excluding a change in deferred revenue, of between $1.63 billion and $1.8 billion and earnings, excluding charges, of between 75 cents to 95 cents a share. Analysts were expecting net revenue of $1.61 billion and earnings of 94 cents a share. For the full fiscal year, EA expects net revenue, excluding the deferred revenue impact, of between $3.8 billion to $4 billion and earnings, excluding charges, of between 85 cents and $1.15 a share. Analysts were expecting revenue of $3.76 billion and earnings of 94 cents a share. The stock gained $1.72 to $60.46. ...
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