Key Developments: Electronic Arts Inc (EA.OQ)

EA.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Electronic Arts Inc reaffirms FY 2015 guidance; gives Q2 2015 EPS guidance; revenue guidance below analysts' estimates
Tuesday, 22 Jul 2014 04:01pm EDT 

Electronic Arts Inc:Expects FY 2015 GAAP net revenue to be about $4.30 billion.Expects FY 2015 non-GAAP net revenue to be about $4.10 billion.Expects FY 2015 GAAP diluted earnings per share to be about $1.78.Expects FY 2015 Non-GAAP diluted earnings per share to be about $1.85.Expects Q2 2015 GAAP net revenue to be about $965 million.Expects Q2 2015 non-GAAP net revenue to be about $1.14 billion.Expects Q2 2015 GAAP loss per share to be about ($0.12).Expects Q2 2015 Non-GAAP diluted earnings per share to be about $0.50.Q2 2015 revenue of $1.143 billion and EPS of $0.51 - Thomson Reuters I/B/E/S.FY 2015 revenue of $4.14 billion and EPS of $1.89 - Thomson Reuters I/B/E/S.  Full Article

Hagens Berman reaches preliminary approved settlement with Electronic Arts Inc in likeness case
Friday, 30 May 2014 09:29pm EDT 

Electronic Arts Inc:Attorneys representing student-athletes who claim Electronic Arts Inc illegally used student-athletes' likenesses in NCAA Football, Basketball, and March Madness videogames filed motion to approve settlement that could mean thousands of dollars in settlement payments to affected players.According to Steve W. Berman, managing partner of Hagens Berman Sobol Shapiro and co-lead attorney, this is first time in history that the NCAA's commercial partners will reimburse student-athletes for using their likenesses.Settlement covers claims made in the Keller and O`Bannon case against EA along with the Alston and Hart cases.Depending on response and claims rates for the class, class members could receive up to $951 for each year they were featured in the videogame, according to the firm.  Full Article

Electronic Arts Inc authorizes stock repurchase program - Form 8-K
Tuesday, 6 May 2014 04:02pm EDT 

Electronic Arts Inc:Says on May 5, authorized a new program to repurchase up to $750 million of EA’s common stock.Says new stock repurchase program, which expires on May 31, 2016.  Full Article

Electronic Arts Inc gives FY 2015 revenue outlook; EPS outlook above analysts' estimates; gives Q1 2015 outlook above analysts' estimates
Tuesday, 6 May 2014 04:01pm EDT 

Electronic Arts Inc:Expects FY 2015 GAAP net revenue to be about $4.38 bln.Expects FY 2015 Non-GAAP to be about $4.10 bln.Expects FY 2015 GAAP diluted earnings per share to be about $2.37.Expects FY 2015 Non-GAAP diluted earnings per share to be about $1.85.Expects Q1 2015 GAAP net revenue to be about $1.20 bln.Expects Q1 2015 Non-GAAP net revenue to be about $700 mln.Expects Q1 2015 GAAP diluted earnings per share to be about $1.26.Expects Q1 2015 Non-GAAP diluted loss per share to be about $(0.05).FY 2015 revenue of $4.10 bln, EPS of $1.52 - Thomson Reuters I/B/E/S.Q1 2015 revenue of $632 mln, EPS of $(0.23) - Thomson Reuters I/B/E/S.  Full Article

Electronic Arts Inc lowers FY 2014 revenue guidance; raises FY 2014 EPS guidance
Tuesday, 28 Jan 2014 04:01pm EST 

Electronic Arts Inc:Lowers FY 2014 non-GAAP net revenue guidance to $3.91 billion due to the weakness in current generation software.Increases non-GAAP EPS guidance to $1.30 due to the improvement in operating profits.FY 2014 revenue of $4.02 bln and EPS of $1.28 - Thomson Reuters I/B/E/S.  Full Article

Lieff Cabraser announces class action litigation against Electronic Arts, Inc
Thursday, 9 Jan 2014 09:00am EST 

Lieff Cabraser Heimann & Bernstein, LLP:Says that class action litigation has been brought on behalf all purchasers of the common stock of Electronic Arts, Inc. between July 24, 2013 and Dec. 4, 2013, inclusive.Says action charges Electronic Arts and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.Says complaint alleges that defendants issued materially false and misleading statements concerning Electronic Arts' rollout of version 4 of its Battlefield video game series that had provided about 11 pct of the company's revenues in fiscal 2012.  Full Article

Holzer & Holzer LLC files class action against Electronic Arts, Inc
Monday, 30 Dec 2013 11:17am EST 

Holzer & Holzer LLC:Says it has filed a class action lawsuit on behalf of investors who purchased Electronic Arts, Inc common stock between July 24, 2013 and Dec. 4, 2013.Says the complaint, which was filed in the United States District Court for the Northern District of California, alleges that a series of statements regarding the purported strength of company's rollout of Battlefield 4 were misleading.Says the lawsuit seeks recovery on behalf of investors who purchased company stock during that time only.  Full Article

Robbins Geller Rudman & Dowd LLP files class action suit against Electronic Arts Inc
Tuesday, 17 Dec 2013 05:04pm EST 

Robbins Geller Rudman & Dowd LLP:Says a class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Electronic Arts, Inc. common stock during the period between July 24 and Dec 4.Says the complaint alleges that during the Class Period, defendants issued materially false and misleading statements highlighting the purported strength of the company`s rollout of version 4 of its all-important Battlefield video game series, which had provided about 11pct of its revenues in FY2012.Says based on the purported strength of the Battlefield 4 rollout then underway, defendants issued strong fiscal 2014 financial guidance for the company and actually increased that guidance on Oct 29.Says the complaint further alleges that, on Nov 15, the day Sony released its new Play Station 4 (PS4) console, it was disclosed that players of Electronic Arts` games were being subjected to multiple glitches and crashes when attempting to play Electronic Arts` titles on PS4.Says on Dec 4, it was disclosed through discussions defendants had with video game bloggers that due to bugs, connectivity issues, server limitations, and various other problems plaguing Battlefield 4, Electronic Arts had been forced to indefinitely halt the Battlefield 4 rollout and other projects.  Full Article

Electronic Arts Inc Raises FY 2014 Guidance; Issues Q3 2014 Guidance Below Analysts' Estimates
Tuesday, 29 Oct 2013 04:05pm EDT 

Electronic Arts Inc announced that for fiscal 2014, it expects GAAP net revenue to be approximately $3.55 billion. Non-GAAP net revenue is expected to be approximately $4.00 billion. GAAP diluted loss per share is expected to be approximately $(0.72). Non-GAAP diluted earnings per share is expected to be approximately $1.25. For the third quarter of 2014, it expects GAAP net revenue is expected to be approximately $775 million. Non-GAAP net revenue is expected to be approximately $1,650 million. GAAP diluted loss per share is expected to be approximately $(1.42). Non-GAAP diluted earnings per share is expected to be approximately $1.22. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $1.22 for fiscal 2014; revenue of $1.75 billion and EPS of $1.32 for the third quarter of 2014.  Full Article

Electronic Arts Inc Signs Multi-Year Agreement With Ken Block For Need for Speed
Thursday, 24 Oct 2013 09:30am EDT 

Electronic Arts Inc announced a multi-year partnership with Ken Block and Need for Speed. The Need for Speed franchise is also sponsoring Block and his Ford Fiesta ST 2013 racing car and will be working with him on the release of Gymkhana SIX, the next installment of the viral video franchise, via the Need for Speed website and YouTube channel.  Full Article

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Electronic Arts profit surpasses Wall Street expectations

SAN FRANCISCO - Video game publisher Electronic Arts Inc reported better-than-expected revenue and profit for the first quarter, driven by robust sales of titles such as "Titanfall," digital revenue and cost control.

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