Monday, Electronic Arts Inc. (ERTS) reported a third-quarter net loss of $82 million or $0.25 per per share, compared to a loss of $641 million or $2.00 per share in the same quarter last year.
On a non-GAAP basis, net income was $109 million or $0.33 per share, compared to $179 million or $0.56 per share in the year ago quarter.
On average, 27 analysts polled by Thomson Reuters expected the company to earn $0.31 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenue for the quarter was $1.24 billion, down from $1.65 billion in the comparable quarter last year. On a non-GAAP basis, net revenue was $1.35 billion, down 23% from $1.74 billion in the previous year quarter. Analysts expected the company to report revenue of $1.34 billion for the quarter.
Looking ahead to the fourth quarter, the company expects net revenue in the range of $925 million - $1.0 billion and non-GAAP net revenue in the range of $800 million - $850 million. Earnings are expected to be in the range of $0.05 - $0.23 per share. On a non-GAAP basis, earnings are expected to be in the range of $0.02 - $0.06 per share. Analysts currently anticipate the company to earn $0.13 per share on revenue of $850.97 million for the quarter.
For the first quarter net revenue is expected to be in the range of $710 million - $750 million and non-GAAP net revenue is expected to be in the range of $460 million - $500 million. For the quarter the company expects to report results in the range of loss $0.05 - profit $0.05 per share. On a non-GAAP basis, loss is expected to be in the range of $0.35 - $0.40 per share.
For the full year 2011, the company expects net revenue in the range of $3.45 billion - $3.70 billion and non-GAAP net revenue in the range of $3.65 billion - $3.90 billion. Loss for the full year is expected to be in the range of $0.60 - $0.90 per share. On a non-GAAP basis, earnings per are expected to be in the range of $0.50 - $0.70 per share. Analysts currently anticipate the company to earn $0.74 per share on revenue of $4.07 billion for the full year.
For comments and feedback: editorial@rttnews.com