Why Electronic Arts Shares Rose 17.5% Last Month
Shares of Electronic Arts (NASDAQ: EA) gained 17.5% in May, according to data from S&P Global Market Intelligence. The surge started with a robust earnings report. Later on, the momentum was boosted by reports about a potential buyout.
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EA's fiscal fourth-quarter sales rose 36% year over year, landing at $1.83 billion. Earnings jumped from $0.26 to $0.80 per share. The results were better than management guidance across the board, with higher revenue and lower expenses than expected. The video game producer also spent $325 million on repurchasing stock during the quarter, resulting in a share count just below the guidance target.
Source Fool.com
