Electronic Arts expects 2009 profit, sales to grow
Posted July 29, 2008 4:41 p.m. EDT
Updated July 30, 2008 8:48 a.m. EDT
NEW YORK — Video game publisher Electronic Arts (Nasdaq: ERTS) says it expects fiscal 2009 profit and sales to grow sharply, fueled by upcoming games such as "Spore," "Mirror's Edge" and "Dead Space."
Redwood City, Calif.-based Electronic Arts Inc. said Tuesday it expects a profit of 21 cents to 48 cents per share for the fiscal year ending in March 2009. The company says adjusted earnings are expected to range between $1.30 and $1.70 per share. Analysts, on average, are predicting a profit of $1.59 a share, according to a Thomson Financial poll.
Excluding the recognition of deferred revenue for certain online games, the company expects fiscal 2009 sales of $5 billion to $5.3 billion. Analysts' estimates had been right in the middle of that range, at $5.15 billion.
One of EA's newest studios is in Morrisville, N.C., where designers recently completed a version of a NASCAR-themed video game.