Electronic Arts beats estimates for 4Q
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Electronic Arts Inc., benefiting from brisk holiday sales of video games used on Sony Corp.'s new Playstation 3, exceeded Wall Street's earnings expectations Thursday despite fiscal third-quarter sales that dropped 38 percent.
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Activision expects revenue in its current quarter to be $350 million, about 25 percent higher than the average forecast of Wall Street analysts.
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Total video game sales (hardware and software) through  October was $10.5 billion, compared with $7 billion for the  same period last year, according to data from NPD Group.
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Electronic Arts Inc  posted a 44 percent rise in quarterly profit excluding special items and gave forecasts below Wall Street estimates, sending shares in the world's top video-game publisher down 6 percents on Thursday.
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IBM on Thursday provided more details of its robust fourth-quarter and 2007 financial performance, following an early preview of the figures on Monday.
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First-person-shooter Call of Duty 4 was last year's biggest selling game, according to sales figures.
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The video game maker largely met Wall Streetâs forecasts, despite posting a quarterly loss because of reorganization charges and deferred revenue.
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Third-quarter profit, helped by sales of jet fighters and electronic warfare systems, beat Wall Street expectations, but the companyâs forecast for next year was slightly below analystsâ estimates.
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Recent launches of new video game consoles from Sony , Microsoft  and Nintendo  are benefiting game maker Electronic Arts Inc. , which is aiming to garner 20 percent of total game sales, according to Barron's.
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The video game maker exceeded Wall Streetâs earnings expectations despite a 38 percent drop in third-quarter sales.
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InfoWorld - IBM provided more details of its robust fourth-quarter and 2007 financial performance on Thursday following an early preview of the figures on Monday.
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The results surpassed Wall Street's expectations in both sales and profit, with fourth-quarter earnings reaching $3 billion for the first time in the company's history.
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For the quarter, EMC, the worldâs No. 1 maker of corporate data storage equipment, beat analystsâ estimates.
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Game kingpin and Motley Fool Stock Advisor recommendation Electronic Arts (Nasdaq: ERTS) has another hit on its hands. Madden NFL 2005 was the top-selling game its first week on the market.
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The software company beat Wall Streetâs projections as it claimed substantial gains over its rivals, SAP and I.B.M.
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Electronic Arts Inc.'s ERTS.O   "Madden NFL 07" football video game dominated sales charts in   August, market research firm NPD Group said on Monday.
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Video game publisher THQ Inc.   posted better-than-expected quarterly profit on Friday due to  strong sales of titles like "WWE SmackDown vs. Raw 2007,"  "Cars," and "SpongeBob SquarePants."