NEW YORK (TheStreet) -- Electronic Arts (EA) - Get Report stock is down 3.26% to $69.94 in after-hours trading on Thursday after the company reported earnings results for the first quarter of fiscal 2016 that surpassed estimates, but fell year-over-year.
The company posted earnings of 15 cents per share on revenue of $693 million for the first quarter of fiscal 2016.
Electronic Arts was expected to report earnings of 3 cents per share on revenue of $652 million, according to analysts surveyed by Thomson Reuters.
The company reported earnings of 19 cents per share on revenue of $775 million for the first quarter of fiscal 2015.
Additionally, Electronic Arts increased its guidance for fiscal 2016 to earnings of $2.85 per diluted share on revenue of $4.45 billion, from earnings of $2.75 per diluted share on revenue of $4.4 billion.
Separately, TheStreet Ratings team rates ELECTRONIC ARTS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELECTRONIC ARTS INC (EA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and increase in net income. We feel its strengths outweigh the fact that the company shows weak operating cash flow."
You can view the full analysis from the report here: EA Ratings Report