Electronic Arts earnings updated with information from earnings call
NEW YORK (
) -- Shares of
shares ticked up in after-hours action on Tuesday after the video game publisher posted a narrower than expected quarterly loss amid strong sales of both its digital and traditionally packaged products.
The company posted a loss of 37 cents per share for its fiscal first quarter ended in June on revenue of $524 million, besting the average estimate of analysts polled by
for a loss of 39 cents a share on revenue of $511.4 million. In the year-ago period, EA reported an adjusted loss of 24 cents on sales of $539 million.
EA, which has been trying aggressively to grow its digital revenue into a $1 billion annual business through
, saw digital sales increase 11% during the quarter to $209 million.
Sales from games played on mobile devices grew 75% over last year, thanks mostly to acquisitions of social gaming firms like
and Angry Birds publisher Chillingo
The company also raised its full year fiscal 2012 revenue guidance for its digital segment to between $1.1 billion and $1.15 billion.
"We saw strong digital revenue growth over the prior year," said CEO John Riccitiello in a prepared statement. "On packaged goods,
is off to a great start and pre-orders for
are tracking extremely well."
The stock was last quoted at $24, up a little less than 1%, on after-hours volume of roughly 125,000, according to
. Based on a regular session close at $23.81, the shares were up 47% so far in 2011. The extended-session high is $24.50.
positioned as a rival to
Call of Duty
title, are up more than 10 times that of its predecessor
Battlefield: Bad Company 2
, the company said.
Pre-orders for EA's massively multi-player online game
Star Wars: The Old Republic
, due out this holiday season, broke a company record, it said, though specific numbers weren't supplied.
EA's Facebook business is also strong, the company said on the earnings call, adding that the cumulative spend of users who play games like
Madden NFL Superstars
through the social networking site is around $56 per user.
"We intend to finish the 2012 fiscal year as a different company than we started," Riccitiello said on the company's earnings call. "We'll be more diversified, more digital and more profitable."
Written by Olivia Oran in New York
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