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Electronic Arts fiscal Q1 profit climbs 8.4% YOY

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Electronic Arts fiscal Q1 profit climbs 8.4% YOY

Electronic Arts Inc. said its normalized net income for the fiscal first quarter ended June 30 came to $1.10 per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.

EPS increased 15.3% year over year from 95 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $345.0 million, an increase of 8.4% from $318.1 million in the prior-year period.

The normalized profit margin rose to 27.1% from 26.4% in the year-earlier period.

Total revenue increased 5.7% year over year to $1.27 billion from $1.20 billion, and total operating expenses grew from the prior-year period to $711.0 million from $691.0 million.

Reported net income came to $441.0 million, or $1.40 per share, compared with $442.2 million, or $1.32 per share, in the year-earlier period.