Electronic Arts Inc., the No. 2 U.S. video-game maker, posted fiscal fourth-quarter profit that beat analysts’ estimates as it led the industry in sales for a new generation of consoles. The shares jumped as much as 19 percent.
Electronic Arts Inc. rose the most in more than two decades after posting profit gave investors confidence that a turnaround under Chief Executive Officer Andrew Wilson is gaining strength.
Electronic Arts Inc., the second- largest U.S. video-game publisher, named Blake Jorgensen as chief financial officer, adding a former Yahoo! Inc. and Levi Strauss & Co. executive to its top ranks.
Levi Strauss & Co. is bracing for tepid consumer spending this holiday season after back-to-school shoppers in the U.S. balked at higher prices on its namesake jeans and Dockers pants.
Levi Strauss & Co. will start selling less expensive jeans in China later this year to tap into the country’s increasing middle class, Chief Financial Officer Blake Jorgensen said.
The Standard & Poor’s 500 Index rose as optimism that the Federal Reserve will continue to support the U.S. economy overshadowed a drop in Internet stocks led by Yahoo! Inc. and Groupon Inc.
Electronic Arts Inc., the No. 2 U.S. video-game maker, rose the most in 13 years after forecasting annual profit that exceeded analysts’ estimates, a result of cost cutting.
Electronic Arts Inc., the second- largest U.S. video-game maker, rose to an almost five-year high after growth in sales of Web-delivered titles led to a smaller- than-projected first-quarter loss.
"It does not signal anything negative or positive."
- Blake Jorgensen on Jul 22, 2014