Electronic Arts Inc. (NASDAQ:EA) shares were surging late today after the company reported its latest quarterly earnings results, which came in ahead of expectations.
The video game maker announced that its fourth quarter of fiscal 2018 yielded earnings of $607 million, or $1.95 per share, topping its year-ago net income of $566 million, or $1.81 per share. Analysts were calling for earnings of $1.83 per share, according to data compiled by FactSet.
EA also said that its revenue for the period improved year-over-year to $1.58 billion, about $50 million higher than the $1.53 billion it raked in during the year-ago period. The Wall Street consensus estimate called for revenue of $1.24 billion, according to analysts surveyed by FactSet.
The company also unveiled its guidance for fiscal 2019, which is slated to bring in net revenue of roughly $5.6 billion, with its change in deferred net revenue (online-enabled games) projected to be around $250 million. EA added that its mobile platform fees forecast is to be around $300 million for the year.
Net income is also expected to grow to $1.1 billion, while its diluted earnings are estimated to be $3.55 per share in the company’s median outlook. Its operating cash flow is slated to be roughly $1.83 billion.
EA also estimated a share count of 312 million for the purpose of calculating its fiscal year 2018 diluted earnings per share.
EA stock was up about 3.3% after the bell Tuesday.