Electronic Arts (EA) stocks is up this morning after it surpassed Wall Street estimates in its latest quarterly report.
EA stock is up 15% pre-market this morning.
Revenues for the quarter were $914 million with polled analysts estimating $812 million.
EA reports an earnings per share of 48 cents — compared to analyst estimates of 11 cents.
At the same time, its earnings were higher at $1.04 billion last year for this quarter.
“Electronic Arts delivered outstanding results in fiscal year 2014,” EA chief executive officer Andrew Wilson said in a statement. “Most importantly, we produced hit games, innovative digital content and services, and amazing entertainment for our players around the world. It was a transformative year for EA in a dynamic year for our industry, and I’m even more excited for the new experiences we will deliver in fiscal year 2015 and beyond.”
Credit for the quarterly gain in part goes to the last quarter launch its sci-fi franchise Titanfall, which surpassed expectations.
Electronic Arts also announced a stock buyback program, and stated that it would purchase some $750 million of its stock.
For fiscal 2015, EA increased its outlook to $1.85, with analyst estimates at $1.51.
