EA shares rising fast after earnings report
Battlefield publisher's shares up today by more than 20 percent.
[UPDATE] EA's share value is still growing. At press time, shares are trading up more than 20 percent to $33.95.
The original story is below.
One day after Electronic Arts reported better-than-expected financial results for its latest quarter, including revenue of $1.12 billion a profit of $367 million, the company's share value is climbing at a significant clip.
Right now, EA shares are up more than 16 percent to $32.63 from their closing price yesterday of $28.05. That's a gain of more than $4.50 per share. Analysts for brokerage firms Sterne Agee and Cowen & Company said through investor notes today that EA's results for the quarter were ahead of expectations.
EA's current share value is the highest its been since 2008. Shares have been trending generally upward so far in 2014.
Looking ahead, EA has a number of marquee titles on its hands for the fall season, including Dragon Age: Inquisition, The Sims 4, and a "major" Frostbite 3-powered game that will be announced at E3. EA plans to show off six new games during its press conference at the show next month. Star Wars: Battlefront, from Battlefield developer DICE, will also be on-hand during the presentation.