Electronic Arts (ERTS) Falls In After-Hours Trading

Shares of Electronic Arts Inc. ERTS fell in after-hours trading, following the fourth-quarter results announced by the company. Despite better-than-expected fourth-quarter profit, the company’s weak outlook resulted in the slide in its stock in after-hours trading. Electronic Arts reported fourth-quarter profit of $30 million, or $0.09 per share, compared with a loss of $42 million, or $0.13 per share it reported for the same period last year. The company reported adjusted profit of $0.09 per share, beating analysts’ estimate of $0.05 per share. Revenue increased by 14% to $979 million. For the current quarter, the company expects adjusted loss per share of $0.35-$0.40, which is higher than analysts’ estimate of a loss per share of $0.33. Following the weak outlook, shares of Electronic Arts were down by 3.99% to $18.05 in after-hours trading.