Electronic Arts Inc. (EA) Q2 Earnings Top Estimates, Stock Falls


Electronic Arts Inc. (NASDAQ:EA) posted its second-quarter earnings results after hours Tuesday.

Electronic Arts Inc. (EA)

The company unveiled profit of 62 cents per share, which topped the consensus estimate of 54 cents per share, according to data compiled by Thomson Reuters. Revenue was in line with badysts’ projections at $1.18 billion.

Net bookings for Electronic Arts’ second quarter amounted to $1.18 billion, topping the year-ago bookings figure of $1.10 billion. Analysts generally expect the company to have an impressive rest of the fiscal year that will feed into the fiscal year 2019.

InvestorPlace – Stock Market News, Stock Advice & Trading Tips

Electronic Arts plans on adding live and mobile game titles in the future. One of the most important additions to its video game offerings is another Star Wars action-adventure game in Star Wars: Battlefront II, which will help the company grow in 2018.

For its fiscal-year 2018 results, Electronic Arts predicts that it will garner profit of $4.20 per share, missing the Wall Street outlook of $4.25 per share. Revenue is slated to be $5.15 billion, ahead of badysts’ guidance of $5.1 billion.

The video game maker also sees its third-quarter earnings as missing the consensus estimate at $2.15 per share versus the projection of $2.40 per share. Its quarterly revenue will underwhelm at $2 billion, compared to badysts’ forecast of $2.06 billion.

EA shares had a good session ahead of earnings as the stock gained 1.7% before Tuesday’s close. After hours, the company’s stock slipped 3.2% due to the weak guidance posted by the video game producer.

More From InvestorPlace

The post Electronic Arts Inc. (EA) Q2 Earnings Top Estimates, Stock Falls appeared first on InvestorPlace.

Source link

Leave a Reply

Your email address will not be published.