Electronic Arts Q2 Loss Narrows, Lifts FY14 Outlook - Quick Facts

(RTTNews) - Electronic Arts Inc. (EA) Tuesday said second-quarter loss narrowed to $273 million or $0.89 per share from $381 million or $1.21 per share in the same period last year.

Adjusted earnings for the quarter was $105 million or $0.33 per share. On average, 24 analysts polled by Thomson Reuters expected the company to earn $0.12 per share for the quarter.

Revenues totaled $695 million, down from $711 million last year. Adjusted revenues were $1.04 billion. Analysts expected revenues of $976.10 million.

Looking ahead to the third quarter, the company has forecast a loss of $1.42 per share, with adjusted earnings of approximately $1.22 per share. Revenues are projected at about $775 million, with adjusted revenues of $1.65 billion.

Analysts currently expect the company to report third-quarter earnings of $1.32 per share on revenues of $1.75 billion.

For the fiscal 2014, the company has raised its earnings guidance from $1.20 per share to $1.25 per share. Revenues are projected at approximately $3.55 billion, with adjusted revenues of about $4.00 billion. Analysts currently expect the company to report full-year earnings of $1.22 per share on revenues of $4.02 billion.