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Electronic Arts fiscal Q1 profit climbs 49.6% YOY

Electronic Arts Inc. said its normalized net income for the fiscal first quarter ended June 30 was 69 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 4 cents per share.

EPS climbed 44.9% year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $220.6 million, an increase of 49.6% from $147.5 million in the year-earlier period.

The normalized profit margin increased to 18.2% from 15.5% in the year-earlier period.

Total revenue climbed 27.9% year over year to $1.21 billion from $949.0 million, and total operating expenses grew 20.5% year over year to $853.0 million from $708.0 million.

Reported net income increased 51.2% year over year to $334.9 million, or $1.04 per share, from $221.5 million, or 71 cents per share.