Electronic Arts Report 9% Fall in Profit – EA, EIX, FTR, GNW, KIM
Electronic Arts Inc. (NASDAQ:EA) stock gained 2.72% to $11.32 in pre-market session after the company’s fiscal first-quarter earnings fell 9% as core revenue slipped. Additionally, the company authorized $500 million in share repurchases.
The company reported a first quarter profit of $201 million, or $0.63 a share, as compared with a year-earlier profit of $221 million, or $0.66 a share. Adjusted latest period’s loss widened to $0.41 a share from a year-earlier loss of $0.37 a share. Revenue fell 4.4% to $955 million and was down 6.3% to $491 million on an adjusted basis. The company in May called for a loss of $0.40 to $0.45 a share on adjusted revenue of about $500 million.
Edison International (NYSE:EIX) reported second-quarter net income of $74 million or $0.22 per share, as compared to $176 million or $0.54 per share in the year-ago quarter. Second quarter core earnings were $103 million or $0.32 per share. Total operating revenue rose to $3.06 billion from $2.98 billion in the comparable quarter last year. Analysts expected earnings of $0.30 per share on revenue estimate of $3.12 billion for the quarter.
Genworth Financial Inc (NYSE:GNW) shares climbed 6.55% to $5.37 after the company posted second quarter net income of $76 million or $0.16 per share, as compared to a net loss of $136 million or $0.28 per share in the prior-year quarter. Adjusted net operating income for the quarter was $80 million or $0.16 per share, as compared to a net loss of $113 million or $0.23 per share in the prior-year quarter. Total revenues for the quarter declined to $2.52 billion from $2.66 billion in the same quarter last year. Analysts expected the company to report earnings of $0.18 per share on consensus revenue estimate of $2.52 billion.
Frontier Communications Corp (NASDAQ:FTR) shares gained 2.04% to $4 after the company posted second quarter net income of $18.0 million or $0.02 per share from $32.3 million or $0.03 per share in the same period last year. Adjusted earnings for the quarter were $75.3 million or $0.08 per share, compared to $62 million or $0.06 per share in the same period last year. Revenues totaled $1.26 billion, down from $1.32 billion last year. Analysts expected the company to earn $0.05 per share on revenues of $1.24 billion.
Kimco Realty Corp (NYSE:KIM) reported second-quarter funds from operations or FFO of $138.0 million or $0.34 per share, as compared to $126.0 million or $0.31 per share in the same period last year. Adjusted FFO increased to $126.2 million or $0.31 per share. Net income was $48.3 million or $0.12 per share, as compared to $23.9 million or $0.06 per share in the same period last year. Total revenues for the quarter rose to $235.4 million from $220.1 million last year. Analysts expected FFO of $0.31 per share on revenues of $222.88 million for the quarter.