Electronic Arts Inc. (EA) reported fourth quarter adjusted EPS of $0.55 after the close Tuesday, up from $0.17 in the prior year. The consensus estimate was for EPS of $0.58. The company expects to report a first quarter adjusted EPS loss of around $0.62 and an adjusted profit of about $1.20 for the full year 2014. The consensus estimates are for a loss of $0.36 and a profit of $1.10.
Electronic Arts gapped up Wednesday and rose sharply in early trade. The stock took out the session highs going into the close and finished with a gain of 3.15 at $21.56 on the highest volume of the year. Electronic Arts surged past resistance and set a new high for the year.
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