REDWOOD CITY, Calif. -Video game publisher Electronic Arts Inc. said Wednesday that it cut its losses in the final three months of 2011 without restructuring costs that brought down earnings a year ago.
The company's net loss in its fiscal third quarter ending Dec. 31 fell to $205 million, or 62 cents per share, from a loss of $322 million, or 97 cents per share, a year earlier.
Adjusted to account for the change in revenues it books over time for online services, earnings amounted to 99 cents per share. That beat the 93 cents expected by analysts polled by FactSet.
Revenue edged up to $1.06 billion from $1.05 billion a year ago.
Accounting for online revenue, adjusted net revenue grew 17 percent to $1.65 billion from $1.41 billion. That also beat the $1.62 billion expected by analysts.
CEO John Riccitiello said the holiday quarter was strong, led by game titles such as "Battlefield 3" and "Star Wars: The Old Republic."
Electronic Arts expects adjusted earnings of 10 to 20 cents per share in the current quarter. Analysts forecast 30 cents per share. The company expects adjusted net revenue of $925 million to $975 million, which was also short of Wall Street forecasts for $996.3 million.
Electronic Arts shares fell 14 cents to close at $18.44. They rose 81 cents, or 4.4 percent, to $19.2 in after-hours trading following the release of results.
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