Electronic Arts (ERTS) Beats Estimates, Shares Fall 4%

Shares of video game producer Electronic Arts Inc. ERTS were down more than 4% at $18.00 per share on Tuesday during after hours trading. Electronic Arts Inc. announced on Tuesday after the market closed that it beat consensus Wall Street fiscal 4th quarter estimates but failed to impress investors with its financial forecasts. Electronic Arts Inc. reported that it swung to a quarterly profit of $30 million, or 9 cents per share, from a loss of $42 million, or 13 cents per share, a year earlier. Revenue climbed 14% to $979 million, up from $860 million a year earlier. Excluding special items, the video game producer reported earnings of 7 cents per share. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 5 cents per share, on revenue of $835.4 million. Electronic Arts Inc. maintained its full-year guidance for fiscal year 2011 earnings of 50 cents to 70 cents per share, excluding special items, on revenue of $3.65 billion to $3.9 billion. Electronic Arts Inc. has a 52 week trading range of $15.70 to $23.76 per share and a daily average volume of 6,274,890 shares.