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Electronic Arts swings to loss in fiscal Q3

Electronic Arts Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of 6 cents per share, compared with the S&P Capital IQ consensus estimate of $1.80 per share.

The per-share result swung to a loss from the prior-year profit of 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $18.8 million, compared with income of $97.5 million in the year-earlier period.

The normalized profit margin fell to negative 1.8% from 8.7% in the year-earlier period.

Total revenue declined 5.0% year over year to $1.07 billion from $1.13 billion, and total operating expenses grew 14.2% year over year to $1.10 billion from $964.0 million.

Reported net income totaled a loss of $43.5 million, or a loss of 14 cents per share, compared with income of $142.1 million, or 44 cents per share, in the year-earlier period.