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Hardly the Good Old Days for Electronic Arts

Electronic Arts posts a narrower-than-expected loss, but revenue is still in decline.
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REDWOOD CITY, Calif. (TheStreet) -- Electronic Arts, the video game maker, turned in a narrower-than-expected loss for its fiscal first quarter, but continued to struggle with declining revenue for its once-chart-topping games.

The company said its adjusted bottom line, excluding items, was in the red by $6 million, or 2 cents a share, better than analysts' estimates of a 13-cent loss.

In after-hours trading Tuesday, EA shares jumped nearly 4%, changing hands at $22.66. The stock closed the regular session at $21.89.

A year ago, the company lost $135 million, or 42 cents a share.

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On the top line, revenue fell to $644 million from $804 million, which fell below Wall Street targets of $725 million.

EA attributed its beating of bottom-line estimates to cost-cutting measures, including layoffs.

Despite the revenue shortfall, the company mentioned "a strong frontline slate" of games, including the third iteration of its

Sims

game as well as

Fight Night Round 4

and an exercise-routine offering called

EA Sports Active

.

EA reiterated previously released guidance for its forthcoming fiscal year, saying it still expects non-GAAP earnings of $1 a share. Analysts have targeted 97 cents.

-- Written by Scott Eden in New York.

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