Electronic Arts cuts loss, shares rise

The largest video game company, Electronic Arts (ERTS), reported quarterly earnings after the bell today. Reduced losses juiced investors who sent shares up roughly a five percent over the course of the day and into the aftermarket (shares were still moving around after the bell, but retreated slightly on the announcement).

The company reported a first-quarter loss of two cents a share ($6 million) based on revenue of $816 million. In the same quarter last year, EA barfed up a stomach-churning loss of 42 cents a share ($135 million) on much diminished revenue of $609 million. Today's numbers were a significant beat on Wall Street analysts consensus. A Thomson Reuters analyst survey had forecast EA losing 13 cents per share on $729.5 million in revenues.