Shares of Electronic Arts drop in wake of first-quarter results

Shares of Electronic Arts Inc. fell in Thursday’s extended trade after the video game company reported better-than-expected quarterly earnings but issued a weak full year revenue outlook. EA reported its fiscal first-quarter earnings rose to $442 million, or $1.32 a share, from $335 million, or $1.04 a share, a year earlier. On an adjusted basis, EA earned 15 cents a share, ahead of the 2 cents a share forecast by analysts. Revenue slid to $1.2 billion from $1.21 billion but still above the $654 million projected by Wall Street. The company projected 2016 adjusted EPS of $2.85 and revenue of $4.3 billion versus analysts’ estimate of $2.80 a share and $4.8 billion in revenue. Shares of EA were off 2% in after hours.

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