EA +5,4%, TTWO +4,0%, ATVI +1,6% after positive comments EA CFO on margins

Electronic Arts (EA) Stock Closed Higher Today After CFO Operating Margin Goal Comments
BY Sebastian Silva Follow
12/03/14 – 04:31 PM EST

NEW YORK (TheStreet) — Shares of Electronic Arts (EA) closed up 5.41% at $45.99 after CFO Blake Jorgensen said the company was reaching its previously-outlined 20% operating margin goal well ahead of time with « further runway ahead », according to Credit Suisse, who hosted the video game software company at their Annual Technology Conference yesterday.

Jorgensen indicated that further opportunities remain from « a confluence of continued gross margin expansion from the mix shift to digital downloads, as well as additional cost cutting to be realized from refocusing the marketing mix towards online channels, » analysts said.

« We come away increasingly convinced in our long-term investment thesis as EA reiterated its intent to redeploy the playbook for FIFA to its other key franchises in terms of a shift away from physical disk sales and into multiple product lines (free to play, mobile, live services), » Credit Suisse analysts added.

http://www.thestreet.com/story/12973928/1/electronic-arts-ea-stock-closed-higher-today-after-cfo-operating-margin-goal-comments.html?puc=yahoo&cm_ven=YAHOO