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Electronic Arts profit beats consensus by 454.9% in fiscal Q1

Electronic Arts Inc. said its normalized net income for the fiscal first quarter ended June 30 was $1.50 per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.

EPS climbed 36.6% year over year from $1.10.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $468.1 million, an increase of 35.7% from $345.0 million in the prior-year period.

The normalized profit margin climbed to 32.3% from 27.1% in the year-earlier period.

Total revenue increased 14.0% on an annual basis to $1.45 billion from $1.27 billion, and total operating expenses came to $706.0 million, compared with $711.0 million in the prior-year period.

Reported net income grew 46.2% on an annual basis to $644.8 million, or $2.06 per share, from $441.0 million, or $1.40 per share.