NEW YORK, NY / ACCESSWIRE / May 11, 2018 / Shares of Turtle Beach Corporation as well as Electronic Arts both jumped to new highs in Thursday's session. Both reported quarterly results that had Wall Street cheering.

RDI Initiates Coverage on:

Turtle Beach Corporation
https://www.rdinvesting.com/report/?ticker=HEAR

Electronic Arts Inc.
https://www.rdinvesting.com/report/?ticker=EA

Turtle Beach Corporation shares were on fire in Thursday trading, closing the day up almost 65% on nearly 17.5 million shares traded. The stock hit a new high of $13.88 during intra-day trading after the manufacturer of sound cards and headsets reported a stellar first quarter. Earnings per share at 16 cents was a big improvement over the loss per share of 81 cents the company reported in the year ago quarter. It was also significantly higher than the 2 cents that analysts had been looking for. Revenue at $40.89 million was also a growth compared to the $14.35 million in the year ago quarter and was higher than the $39.83 million expected by analysts. The company has raised its outlook for full year 2018 with expected earnings per share of roughly 95 cents. The company had called for a loss per share of 12 cents before. Analysts are expecting earnings per share of 33 cents. Full year 2018 revenue expectation has been raised from $157 million to an expected $205 million while analysts are waiting for $169.57 million. It was on Thursday that analyst Alicia Reese of Wedbush reiterated her rating on shares at "overweight" and raised her price target from $4 to $12.50. According to Reese, the company is "improving its operational efficiency, gaining market share from competitors and benefiting from the rise in popularity of online gaming." She also wrote, "We think the company is poised for continued growth driven by the expansion of battle royale-style games and new gamers entering the market, which should drive both console and PC gaming headsets."

Access RDI's Turtle Beach Corporation Research Report at:
https://www.rdinvesting.com/report/?ticker=HEAR

Electronic Arts Inc. shares closed up 2.10% on about 3.9 million shares traded on Thursday. The stock hit a new high of $133.92 during intra-day trading. It looks like Wall Street may be still reacting to the company's strong fourth quarter results. The California-based video game company reported net income of $607 million for the quarter. On a per-share basis, EQ reported a profit of $1.95. Adjusted earnings at $1.31 a share were higher than the $1.15 a share that analysts had been looking for. Revenue at $1.58 billion was also higher than the $1.25 billion that Wall Street was expecting. For the full year, EA reported a profit of $1.04 billion, or $3.44 a share. Revenue was $5.18 billion. CEO Andrew Wilson stated, "FY '18 was a year of growth and continued transformation for Electronic Arts and a year where our commitment to putting players first grew even stronger. We expanded our global player base; grew engagement in our leading games, live services and subscriptions; and continued our focus on listening and learning from our communities."

Access RDI's Electronic Arts Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=EA

Our Actionable Research on Turtle Beach Corporation (NASDAQ: HEAR) and Electronic Arts Inc. (NASDAQ: EA) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com