One of Burnaby’s largest employers reported a blockbuster holiday season on January 27 as both revenue and profit easily topped analysts’ estimates in the fourth quarter of 2014.
California-based Electronic Arts Inc. (EA), which employs about 1,300 people in B.C., generated US$1.43 billion in sales in the three months that ended December 31, or about 11% more than the US$1.29 billion that analysts had been expecting in the quarter.
Sales were up nearly 40% compared to the same quarter in 2013.
Profit also impressed.
EA reported earnings per share of US$1.22, which was nearly 33% more than analysts had been expecting.
“EA has driven another quarter of record-breaking financials,” said CFO Blake Jorgensen in a release.
Our ongoing digital transformation, including live services like EA SPORTS Ultimate Team, coupled with ongoing cost discipline, enables us to deliver consistent cash flow and earnings growth.”
The company raised 2015 net revenue guidance to US$4.253 billion up from US$4.175 billion. It also boosted its guidance for earnings per share to US$2.35 up from US$2.05.
The company's stock (Nasdaq:EA) was up about 4.4% to US$50.55 after hours. EA shares have more than tripled since mid-2012.
