Electronic Arts (EA) - Get Free Report, the producer of prominent videogames including "Battlefield," "The Sims" and "FIFA," reported fiscal-fourth-quarter net income more than doubled on 12% higher revenue.
Separately, Activision Blizzard, (ATVI) - Get Free Report maker of videogames including "Call of Duty," "World of Warcraft" and "Candy Crush," reported first-quarter net income per share rose 12% on 2% lower revenue.
In the quarter ended March 31, EA, Redwood City, Calif., earned $1.43 a share compared with 69 cents in the year-earlier quarter.
Revenue reached $1.39 billion from $1.24 billion.
A survey of analysts by FactSet produced consensus estimates of net income of $1.05 a share on revenue of $1.18 billion.
“Our results this quarter prove the value of the live services path we’ve been on now for a decade,” Blake Jorgensen, chief operating officer and chief financial officer, said in a statement. “The breadth and depth of our live services give the flexibility we need at times like this to meet player needs.”
For the fiscal 2021 first quarter EA is expecting to earn 93 cents a share, short of the FactSet consensus estimate of $1.02.
Late last month Electronic Arts and Google (GOOGL) - Get Free Report said they'd formed a partnership under which five of the videogame producer's top titles would be made available on the Mountain View, Calif., search and tech giant's cloud-based gaming platform, Stadia.
Activision Blizzard, the Santa Monica, Calif., game producer, in the first quarter earned 65 cents a share compared with 38 cents in the year-earlier quarter. Adjusted earnings in the latest period were 76 cents a share against 78 cents a year earlier.
Revenue eased to $1.79 billion from $1.83 billion.
A survey of analysts by FactSet produced consensus estimates of net income of 57 cents a share, or an adjusted 38 cents, on revenue of $1.32 billion.
“In the face of so many difficulties,” Chief Executive Bobby Kotick said, “our employees have made certain that the joy, the engagement, and the benefits of gaming remain an effective way to help keep our 400 million players around the world connected and safe."
For the second quarter ATVI is expecting to earn 54 cents a share, or an adjusted 64 cents. The FactSet consensus is 38 cents of profit, or an adjusted 39 cents.
At last check Electronic Arts shares were trading down 4.3% at $114.42. They closed the regular Tuesday trading session up 2.4% at $119.61.
At last check after hours, Activision shares were trading up 4.3% at $71.50. They closed the regular session up 2.7% at $68.53.