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EA doing well on digital revenues... for now

No matter how you look at it, the company has transitioned to digital from packaged games, and is making money -- but Wall Street isn't thrilled all the same.

For the first quarter of Electronic Arts' 2016, which covers the three months ending June 30, the company beat analyst estimates handily, pulling in net revenues of $693 million versus expectations of $652 million.

The company's digital revenues outpaced its packaged goods sales; $532 million was digital with just $161 million packaged goods -- a small increase and a big drop, respectively, over the same quarter last year, when the company took in $482 million and $293 million, respectively.

Still, the results disappointed investors, with shares falling nearly 5 percent in after-hours trading as of this writing. That's because its earnings projections for the next quarter and the year are both below what analysts were expecting.

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