Shares in Electronic Arts have hit a new 52-week high of $20.84, compared to the previous 52-week high of $19.51 and shares are up 26% YTD as of the close of trading on Tuesday, May 7.
The jump comes after the firm announced its Q4 and FY 2013 earnings last night.
In the firm’s Q4, net revenue was up 6%, driven mainly by digital revenue with trailing 12-month digital net revenue at $1.66 billion, representing a growth of 36%. Q4 profits hit $323 million, down compared to $400 million year-over-year while total revenue for FY13 was $3.8 billion, down from $4.14 billion in 2012.
However, the good news added in with the mix of lower profits seems to help the firm’s stock price: Battlefield 3 Premium generated $120 million in revenue; SWTOR monthly revenue doubled; FIFA 13 sold through over 14.5 million units with digital net revenue topping $200 million; and total FIFA digital net revenue was close to $350 million for FY13.
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