Electronic Arts shares fall after revenue beat
Electronic Arts Inc. EA, -0.51% shares fell nearly 6% in the extended session Thursday after the videogame maker reported better-than-expected net bookings. The company reported fiscal third-quarter net income of $346 million, or $1.18 a share, compared with $262 million, or 86 cents a share, in the year-ago period. Revenue rose to $1.59 billion from $1.29 billion in the year-ago period. EA reported fiscal third-quarter bookings of $1.98 billion, versus $1.61 billion in the year-ago period. Bookings are a common non-GAAP figure used by videogame companies to reflect digital and physical sales. Analysts surveyed by FactSet had estimated adjusted earnings of $2.51 a share on bookings of $1.97 billion. For the fiscal fourth quarter, analysts model adjusted earnings of 98 cents a share on bookings of $1.2 billion. The company said it expects fiscal fourth-quarter earnings of $1.05 a share on bookings of $1.15 billion. EA stock has gained 25% this year, with the S&P 500 index SPX, +0.31% rising 22%.
Electronic Arts, Inc. is a global interactive entertainment software company. The company is organized into three divisions: EA Studios, EA Mobile and Maxis. The EA Studios division is responsible for developing games and related content and services across an expansive range of game categories. The EA Mobile division develops and publishes interactive games for play on mobile phones and tablets, as well as certain casual games for the PC. The Maxis division focuses on creating compelling games and related content and
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