Electronic Arts Misses Estimates

The video game publisher misses analyst earnings and revenue estimates in the first quarter.
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SAN FRANCISCO -- Video-games publisher

Electronic Arts

(ERTS)

narrowed its loss for the first fiscal quarter of 2009 but missed analyst expectations.

The company reported a net loss of $95 million, or a loss of 30 cents a share in the quarter vs. a loss of $132 million, or 40 cents a share, a year ago.

Excluding charges, EA reported net loss of $135 million, or a loss of 42 cents a share, compared with a loss of $69 million, or a loss of 22 cents a share, a year ago.

Revenue for the quarter rose 41% to $609 million from $431 million a year ago.

Analysts polled by

Thomson Reuters

were expecting a loss of 34 cents a share on revenue of $639.8 million.

Sales were driven by the launches of

Battlefield: Bad Company

,

UEFA EURO 2008

,

Burnout Paradise

and continued strength of its game

Rock Band

launched in partnership with Harmonix and

Viacom's

(VIA) - Get Report

MTV Networks, said EA. The

Battlefield Bad Company

game sold 1.6 million copies.

Including all charges, EA reported revenue of $804 million, up from $395 million the year before. During the quarter, EA had a net benefit of $231 million related to the recognition of deferred revenue for some online enabled games.

Shares of EA were down $1.54, or 3.2%, to $45.86 in recent extended trading.

For the fiscal year, EA said it expects revenue to range between $5 billion and $5.3 billion Earnings, excluding items, is expected to range between $1.30 a share and $1.70 a share. Analysts are expecting earnings of $1.59 a share on revenue of $5.15 billion.

EA's biggest rival

Activision Blizzard

(ATVID)

will report its earnings Thursday though the company

pre-announced

its results earlier this month.

Smaller competitor

THQ

(THQI)

will report its quarterly results Wednesday.

EA is in the midst of a $2 billion hostile buyout of the maker of the

Grand Theft Auto

franchise,

Take-Two Interactive

(TTWO) - Get Report

.