NEW YORK (TheStreet) -- Shares of Electronic Arts (EA) were retreating on heavy trading volume after-hours Tuesday as the video game company reported lower-than-expected 2017 fiscal second-quarter results and issued downbeat guidance for the third quarter and full year.
After today's market close, EA posted a loss of 13 cents per diluted share. Revenue came in at $1.10 million, which beat Wall Street's expected $1.09 billion.
EA expects to report a net loss of 17 cents per share for the 2016 third quarter. Revenue is projected to be about $2.04 billion for the quarter, below the FactSet consensus of $2.08 billion.
For the full year, EA sees adjusted earnings of about $2.69 per share. The company forecasts revenue of about $4.90 billion, while the FactSet consensus is $4.95 billion.
About 6.87 million shares of EA have been traded so far today, well above the company's average trading volume of roughly 5.43 million shares a day.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates EA as a Buy with a ratings score of A. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. The team feels its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: EA