NEW YORK (TheStreet) -- Electronic Arts (EA) reported that net income rose to $61 million, or 19 cents per diluted share, from a net loss of $121 million, or -40 cents per share last year, during the first quarter period.
The video game maker reported a 56.5% year over year quarterly increase in non-GAAP revenue to $775 million led by the success of its hit game "Titanfall".
Analysts were expecting a net loss of -3 cents per share on revenue of $713.8 million during the quarter.
TheStreet Ratings team rates ELECTRONIC ARTS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELECTRONIC ARTS INC (EA) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."