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Electronic Arts profit misses consensus by 67.4% in fiscal Q3

Electronic Arts Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 30 cents per share, compared with the S&P Capital IQ consensus estimate of 92 cents per share.

The per-share result swung to a profit from the prior-year loss of 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $97.5 million, compared with a loss of $186.9 million in the year-earlier period.

The normalized profit margin rose to 8.7% from negative 23.1% in the year-earlier period.

Total revenue grew 39.4% year over year to $1.13 billion from $808.0 million, and total operating expenses decreased 12.4% on an annual basis to $964.0 million from $1.10 billion.

Reported net income came to $142.1 million, or 44 cents per share, compared with a loss of $309.0 million, or a loss of $1 per share, in the year-earlier period.