NEW YORK (
shares jumped more than 7% in midday trading Thursday after the video game publisher reitereated its commitment to
during its fourth-quarter earnings call.
"Today, we're announcing a big shift," CEO John Riccitiello said on Wednesday. "Over the coming years, we're transforming EA from a packaged goods company to a fully-integrated digital entertainment company."
EA's Dragon Age 2 game helped boost earnings during the fourth quarter .
While EA has talked about this shift for some time, the firm has recently stepped up its acquisition beat, buying small companies behind popular
and smartphones games. Tuesday, the company announced the buy of
, creator of popular titles like
to bulk up its presence in mobile gaming.
On Wednesday after the bell, EA posted non-GAAP digital revenue of $833 million revenue for the fiscal year, up 46% over last year and easily surpassing the company's goal of $750 million.
Besides digital, EA attributed its growth to the sales of core games like
Dead Space 2
Dragon Age 2
, which each shipped more than 2 million units during the quarter.
The video game publisher reported adjusted earnings of $83 million, or 25 cents per share, up from $30 million, or 7 cents per share, during the same period last year.
Non-GAAP revenue rose 17% to $995 million. Analysts expected the company to post earnings of 22 cents on revenue of $923.88 million.
The company gave guidance below analyst expectations for both the current quarter and fiscal year as it prepares to launch its highly anticipated
massive multiplayer online game. The title, EA's most expensive game to date, is intended to compete with
World of Warcraft
EA will also launch its first-person shooter game,
, later this year, an attempt to compete head-to-head with Activision's
Call of Duty
--Written by Olivia Oran in New York.
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