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Electronic Arts Posts Fourth-Quarter Profit | |
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| Time: 04:00 EST/09:00 GMT | News Source: Associated Press | Posted By: Alex Harris | ||
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No. 1 video game publisher Electronic Arts Inc. on Thursday reported a net profit for its fiscal fourth quarter topping the most bullish Wall Street forecast and reversing a year-earlier loss as sales jumped 53 percent. The company, best-known for its hit game franchises like "The Sims," "Madden NFL" and titles based on the "Harry Potter (news - web sites)" books, also said it expects revenue growth of more than 20 percent in its core business this fiscal year and as much as 60 percent in its online business. Electronic Arts shares rose on the results, gaining as much as $3.09, or 5.2 percent, to $62.04 in after-hours trade on Instinet after closing at $58.95 on Nasdaq. The Redwood City, California-based company reported a net profit of $47.3 million, or 33 cents a share, compared with a year-earlier loss of $17.9 million, or 13 cents a share. | ||
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