Electronic Arts Earnings: EA Stock Soars as Q4 Revenue Tops Guidance
Electronic Arts (NASDAQ:EA) unveiled its quarterly earnings results late Tuesday afternoon, which is stronger than what analysts called for despite dropping when compared to its year-ago results, playing a role in EA stock increasing after hours today.
For its fourth quarter of its fiscal 2019., the video game maker announced that its revenue tallied up to $1.24 billion, which marked a decline of 22% when compared to the year-ago quarter. The Wall Street consensus estimate called for revenue of $1.21 billion, according to data compiled in a survey of analysts conducted by Investing.com.
EA’s net income was down to $209 million, or 69 cents per share, when compared to its year-ago profit of $607 million, or $1.95 per share. This figure was below the Wall Street consensus estimate of 99 cents per share in earnings, according to data compiled by Investing.com.
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The company added that it was a 9% gain in net booking, reaching $1.36 billion. “Players are engaging with games in more ways than ever before,” CEO Andrew Wilson said.
“We’re committed to meeting them where they are with a broad portfolio of amazing new games and live services, choice of engagement models including free-to-play and subscriptions, and new opportunities to play, compete and watch,” he added.
For its fiscal 2020, the company sees its earnings in the range of $2.96 billion, or $8.56 per share, while sales are slated to be around $5.38 billion.
EA stock is up about 5.7% after the bell Tuesday following the company’s strong quarterly earnings results that topped expectations. Shares had been sliding about 1.1% during regular trading hours as Electronic Arts got ready to report its results for the period.
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