I remain upbeat about the shares of Electronic Arts (EA), a US-based producer of video games for consoles, personal computers, mobile phones and tablets. Recently, the company posted better-than-expected financials for its fiscal 2017 first quarter ended June 30. Adjusted revenues decreased 1.6% y-o-y to $682 mn but surpassed consensus estimate of $651 mn. Continued increases in digital revenues and strength in titles like FIFA Ultimate Team, and mobile games like Star Wars: Galaxy of Heroes and NBA Live were the driving factors. Digital revenues (83.3% of revenues) jumped 6.7% to $568 mn while revenues from EA’s Packaging goods and other segment (16.7% of revenues) dropped 29.2% to $114 mn. Adjusted earnings per share of 7 cents beat analysts’ average projection of 2 cents.EA exited FQ1 with $3.427 bn in cash and short-term investments. During the quarter, the company repurchased 1.9 mn shares for $129 mn. It still has $410 mn worth of shares remaining in the current buyback authorization.In fiscal 2017, EA expects to generate GAAP revenues of approximately $4.750 bn, driven by a strong pipeline of new releases namely Battlefield 1, Titanfall 2 and Mass Effect: Andromeda. GAAP earnings are forecast to be $2.56 per share. The company also plans to generate free cash flow of $1.2 bn.Shares of EA have broken $80 resistance level and, in my opinion, are well positioned to comtinue growth, with medium-term target at $88. $EA, Electronic Arts Inc. / 1440