Shares of videogame maker Electronic Arts Inc. lit up 4% in extended trading Wednesday after the company reported a jump in net income and revenue that slightly beat analysts’ estimates.
EA EA, -0.01% reported fiscal second-quarter net income of $399 million, or $1.47 a share, compared with net income of $299 million, or $1.07 a share, in the year-ago quarter. The company, which earlier this year announced a 6% reduction in its workforce, amounting to about 800 people, reported net revenue of $1.91 billion, up slightly from $1.9 billion a year ago.
EA executives said they expect fiscal 2024 net revenue of $7.3 billion to $7.7 billion; analysts polled by FactSet are forecasting $7.57 billion.
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